phil from Edmond

Wall Street Breakfast: Must-Know News

Further to the proposed sale of tax credits. Why would Treasury approve the sale? Effectively, they would approve Fannie Mae to accept $0.80 (or whatever) for $1 dollar of tax credits. Since Treasury is funding Fannie Mae, through the conservatorship, where is the advantage to the Treasury in this transaction. Treasury reduces its contribution to Fannie Mae by $0.80 and loses $1 dollar from tax receipts.

CNBC's Specious Reporting on the Housing Plan

Dear John Thain, have you expressed an opinion on the reporting of Shepard Smith in New Orleans stoking the Katrina fiasco.

6+ Questions About the Government's Stake In Those Bailed-Out Companies

Dear John Thain, I think you are right to question what happens next. It seems we are nationalizing a bunch of debt. It only works if the federal government is not asked to pay it off( to China, Russia or Saudi Arabia) or we inflate the dollar. The best path is to reduce the trade deficit. To do that we need to reduce oil imports and get other nations to buy our products that are competitive in the world market.
The worse thing is to try and stimulate an area of our economy into another bubble.

Fannie and Freddie: Mission Drift on Parade

Nice analysis. Quite a contribution to understanding what has been going on.

Six Quotes from Fannie Mae on the Mortgage Industry

It's worse than I thought.