• 11 Jul 2008 at 10:28 AM

Hank Paulson: Supporting Fannie and Freddie In Their Current Form

By Bess Levin

Treasury Secretary Hank Paulson has now spoken up about the story in the New York Times regarding “contingency planning” for Fannie Mae and Freddie Mac. The official statement makes no mention of a possible bailout or taking them into conservatorship. He emphasized that the Treasury is supporting both companies “in their current form.”
“Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form as they carry out their important mission,” Paulson said in the short statement just released. “We appreciate Congress’ important efforts to complete legislation that will help promote confidence in these companies. We are maintaining a dialogue with regulators and with the companies. OFHEO will continue to work with the companies as they take the steps necessary to allow them to continue to perform their important public mission.”

Comments (8)

  1. 1
    Posted by guest | July 11, 2008 at 10:37 AM

    if a bailout announcement was coming, wouldn’t the stocks have to be halted first?

  2. 2
    Posted by guest | July 11, 2008 at 10:43 AM

    Details will be worked out over the weekend. No one will want to hold this junk til Monday. Short away.

  3. 3
    Posted by guest | July 11, 2008 at 10:47 AM

    “Stocks Plunge Deeper After Paulson Remarks”
    haha, GS doosh

  4. 4
    Posted by guest | July 11, 2008 at 11:02 AM

    “Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form …” Interesting that he started with “Today”. Wonder what their focus will be over the weekend.

  5. 5
    Posted by Anal_yst | July 11, 2008 at 11:23 AM

    How pissed must paulson be that all his otherwise lovely hampton weekends are ruined by these douches and their 48-hour collapses, the nerve!

  6. 6
    Posted by golden girl | July 11, 2008 at 11:30 AM

    Anyone have a link to the statement text? Is it online anywhere? Is that the full statement?

  7. 7
    Posted by guest | July 11, 2008 at 11:37 AM

    “Today our primary focus is supporting Fannie Mae and
    Freddie Mac in their current form as they carry out their
    important mission.
    “We appreciate Congress’ important efforts to complete
    legislation that will help promote confidence in these companies.
    We are maintaining a dialogue with regulators and with the
    companies. OFHEO will continue to work with the companies as they
    take the steps necessary to allow them to continue to perform
    their important public mission.”
    …My favorite: “appreciate Congress’ important efforts”
    Congress: “you boys point us in the right direction, while we work ourselves up to a climax and we’ll shoot the medicine when you say go”

  8. 8
    Posted by guest | July 11, 2008 at 11:52 AM

    Let them and LEH all f’ing fail. What a goddamn joke the US gov and financial system have become…

Leave a comment

You can log in with your account or comment as a guest below.

   or