2008-08-19 — nakedcapitalism.com
“Hank Paulson’s gamble is that if the Treasury commits to investing in Fannie and Freddie [if required] it will never have to put money in,†said Alex Pollock, a fellow at the American Enterprise Institute... In other words, this was all meant to be a bluff. But the markets have called the bluff in very short order.
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michaelblomquist at 23:06 2008-08-20 said:
Who knows how much toxic waste made its way on to Fannie and Freddie's balance sheet as a result of the stimulus act; Loans between $417-$729,750? Many fear a government bail out or take over of these institutions; which will happen, but the GSEs should NOT be taking all all the bunk debt from Wall Street before it happens. Dollars for Donuts that nothing will happen until the Stimulus Act (new loan limits) expire in 2009. A massive tsunami of bunk debt will flow from level 3 to the GSEs Permalinkadd a comment | go to forum thread
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