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  • Rethinking Fannie, Freddie and Mortgages [View article]
    "My small contribution to the effort was showing that the fair value balance sheet was not compatible with the standard balance sheet"

    As I look at the FRE & FNM June 30 balance sheets it is striking how much better FNMs financial condition looks than FRE. If I were a FNM shareholder I would be irate, and screaming at my Congressman, about the takeover at a time the company had a 4.7% capital ratio and a primary regulator that said 1 month ago that the company's need for a capital infusion was overstated.

    Was this a case of the Treasury Secretary just reacting to the foreign sovereign wealth funds demands for an explicit guaranty and beating up on the regulator to get an insolvency verdict?
    Sep 13 16:07 pm |Rating: 0 0
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