Results tagged “Freddie Mac” from Dealbreaker
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In Soviet Russia, Agencies Buy You
Mar 05, 2009, 10:25am
Posted by Equity Private
Well, someone over there is thinking. The motherland believes it has seen quite enough of agency shenanigans, thank you very much. There will be no more of that nonsense on Putin's watch. Now let's have no more of this so...
Feed Us. Or Else
Nov 14, 2008, 10:08am
Posted by Equity Private
Your mother told you not to bring those filthy things inside, but you snuck them in anyhow. Now, blind, helpless, cold, foul smelling and featherless, the screaming, greedy mouths of the GSEs seem to gape endlessly, never satisfied and eager...
Naughty And Nice
Nov 11, 2008, 10:34am
Posted by Equity Private
At 2pm eastern, the Federal Housing Finance Agency is expected to announce a plethora of mortgage gifts to homeowners with Fannie Mae and Freddie Mac loans. This year, gifts will follow the increasingly popular "Reverse Santa" list (not to be...
Wait A Second... Haven't I Seen This Film Before?
Oct 11, 2008, 3:20am
Posted by Equity Private
Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people...
Big CDS Day On The Way
Oct 05, 2008, 7:28pm
Posted by Equity Private
Credit Default Swaps for Fannie and Freddie will see their recovery set tomorrow in an auction described by Reuters as "...the largest settlement of the contracts the market has ever seen." That this has rather serious ramifications for the CDS...
What's This Now?
Sep 08, 2008, 5:53pm
Posted by Bess Levin
It's unclear if Sarah Palin "[may not have] known what she was talking about when she made her first major statement on domestic economic policy"? Whoa. Now, obviously I'm no econ expert or political strategist for that matter. So I...
Buffett On Bailout
Sep 08, 2008, 10:18am
Posted by Bess Levin
Whatever your thoughts on the matter of the this little mortgage rescue are, you cannot ignore the toll it's taking on Warren Buffett. CNBC had him on this morning in a phone interview with Becky Quick, who called in from...
Who Owns Fannie and Freddie's Common Stock?
Sep 07, 2008, 7:24pm
Posted by John Carney
The common stock of Fannie Mae and Freddie Mac is almost exclusively held by large financial institutions. The top ten largest institutional holders control over half of the stock of each companies. Details on Fannie Mae's ownership can be found...
No Senior Debt Guarantee For Fannie and Freddie?
The Rescue Hound That Didnt Bark
Sep 07, 2008, 5:49pm
Posted by John Carney
Not only did the Treasury Department avoid a direct capital injection into Fannie Mae and Freddie Mac, it has also avoided making an explicit guarantee of the senior debt of the two mortgage companies. Many people expected that the government...
No Capital Injected Into Fannie and Freddie
Sep 07, 2008, 5:33pm
Posted by John Carney
Despite the new lending facilities and a commitment to maintain a positive net worth in Fannie Mae and Freddie Mac, the Treasury has avoided actually injecting capital into the two companies. The consideration for the $1 billion in preferred stock...
The Danger Behind The Fannie and Freddie Rescue
Sep 07, 2008, 4:47pm
Posted by John Carney
Keeping the common stock outstanding is a serious problem. Fannie and Freddie, once powerful institutions backed by Washington insiders and the titans of banking, are at the weakest they have ever been. Their shareholders and executives have been knocked...
A Frantic Weekend Of Putting Together The Fannie and Freddie Rescue Plan
Sep 07, 2008, 11:52am
Posted by John Carney
So now we know that the Treasury is rescuing Fannie Mae and Freddie Mac by placing them into a conservatorship. The news that something was brewing had been bubbling up since Friday, when the Wall Street Journal first reported that...
Government Takes Over Fannie And Freddie!
DealBreaker Weekend Edition
Sep 07, 2008, 11:39am
Posted by John Carney
The Federal Housing Finance Authority will take over as conservator Fannie Mae and Freddie Mac, the government announced as part of its breathtaking rescue of the two housing giants. Under the plan, the current common stocks shareholders will be nearly...
Take A Load Off Fannie: Treasury Rescue Coming This Weekend?
Sep 05, 2008, 4:49pm
Posted by John Carney
So it looks like Fannie Day is finally approaching. The Wall Street Journal is reporting that a plan to shore up Fannie Mae and Freddie Mac could be announced as early as this weekend. No details of the plan are...
Bill Gross: Bring Out The Bazooka
Posted in PIMCO, Treasury, Sep 04, 2008, 3:05pm
Posted by John Carney
Institutional buyers have no more appetite for the debt or preferred equity of financial companies, the manager of the world's biggest bond fund said in an interview with CNBC's Erin Burnett. Bill Gross, who manages the $130 billion Pimco Total...
The Fed-Fred Trade, Preferred Stock Edition
Aug 26, 2008, 3:02pm
Posted by John Carney
Banks who bought short-term bonds sold yesterday by the government chartered mortgage giant Freddie Mac may have also boosted their own balance sheets by strengthening Freddie's preferred stock....
Trade of The Day: Buy Freddie Paper With Fed Leverage
Aug 25, 2008, 4:24pm
Posted by John Carney
Shares of Freddie Mac are soaring today, up more than 20 percent right now. The rise is being attributed to Freddie's success in selling $1 billion of three-month and $1 billion six-month notes in a weekly auction, which has supposedly...
JP Morgan Takes A $600 Million Writedown In Fannie and Freddie Preferred
Posted in JPMorganChase, Aug 25, 2008, 2:15pm
Posted by John Carney
JP Morgan Chase estimated that its holdings of Fannie Mae and Freddie Mac preferred stock lost about half of their value the third quarter now underway, according to a regulatory filing with the Securities and Exchange Commission. JP Morgan says...
Bazooka Strategy Seems To Be Working, For Today
Aug 25, 2008, 1:14pm
Posted by John Carney
The plan to bolster Fannie Mae and Freddie Mac by talking up the Treasury's ability to bailout their debt while talking down the possibility that the two government sponsored mortgage companies could nationalized seems to be working. Reuters reported early...
Fed Pressures Treasury Not To Wipe Out Fannie Mae Preferreds
Aug 25, 2008, 11:08am
Posted by John Carney
The Federal Reserve has been quietly pressuring the Treasury Department not to adopt a rescue plan for Fannie Mae and Freddie Mac that would wipe out the value of their preferred shares, according to a source familiar with the matter....
