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VVance
2489 Posts |
 Posted - 07/11/2008 : 05:31:20 AM
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FANNIE MAE(NYSE: FNM)
NEW Pre-market Real-time: 7.01 -6.19 (46.89%)
FREDDIE MAC(NYSE: FRE)
NEW Pre-market Real-time: 4.88 -3.12 (-39.00%) 8:30am
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StephanieGibbons
50 Posts |
Posted - 07/11/2008 : 05:37:13 AM
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http://www.usatoday.com/money/economy/housing/2008-07-10-freddie-fannie_N.htm?loc=interstitialskip
Howard Shapiro, senior analyst at Fox-Pitt Kelton, thinks the two companies have plenty of capital but that their stocks could continue to take a pounding. "Psychology can create its own reality," Shapiro says.
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VVance
2489 Posts |
Posted - 07/11/2008 : 05:48:39 AM
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Here's another opinion From Mr. Mortgage..and now seems to be the prevailing opinion on Wall St
US Gov’t Considers Fannie/Freddie Takeover With No Debt Guaranty!
Posted on July 11th, 2008 in Uncategorized
This is somewhat expected, but not when it comes to NOT backing up their paper (see below in red).
Most assume that if the agencies fail, the Gov’t would backstop their $5 trillion in guarantees, which is why the agency market has held together fairly well through all of this. However, this may not be the case.
As you know in recent days, Agency spreads have widened considerably on speculation that Fannie and Freddie are in serious trouble and would not be able back up said guarantees. Now it is questionable whether the Gov’t would back the paper in the event of a take over.
http://mrmortgage.ml-implode.com/2008/07/11/us-govt-considers-fanniefreddie-takeover-with-no-debt-guaranty/ |
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ML
3019 Posts |
Posted - 07/11/2008 : 05:55:56 AM
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| you can't link to ml-implode |
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CoralSnake
10880 Posts |
Posted - 07/11/2008 : 06:52:43 AM
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quote:
Originally posted by StephanieGibbons
http://www.usatoday.com/money/economy/housing/2008-07-10-freddie-fannie_N.htm?loc=interstitialskip
Howard Shapiro, senior analyst at Fox-Pitt Kelton, thinks the two companies have plenty of capital but that their stocks could continue to take a pounding. "Psychology can create its own reality," Shapiro says.
I know Howard Shapiro.
He used to be a top analyst at Goldman Sachs.
Very intelligent guy.
Its interesting with these people, becuase when you are watching CNBC with them, they know all the CEOs who are on. |
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