Relevant:
- Freddie Mac Posts $5 Billion Profit, Second-Largest In Company History
- Check Out Janet Tavakoli's Presentation On Why Housing Finance Was Always "Fraud As A Business Model"
- Janet Tavakoli On Next Steps In The Foreclosure Scandal
- Interview: Janet Tavakoli Explains The Problem With Fannie and Freddie
- America in Worse Fiscal Shape than Detroit-Professor Laurence Kotlikoff (interview)
2011-01-15 — bloomberg.com
"The Federal Housing Financing Agency puts Fannie and Freddie’s losses at about $300 billion. But industry experts, like Janet Tavakoli, suggest the real number is closer to $700 billion. And if home prices fall another 20 percent to return to their long-term trend, the tab might climb to $1 trillion."
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Comments:
catherine at 04:12 2011-01-16 said:
WE WOULD BE LUCKY if this cost only ONE TRILLION.............they are still lying, fannie and freddie have been buying this garbage by themselves for over 3 or 4 years now and they only think 300 billion in damage :lol: :lol: :lol: and love this line: We need a new limited-purpose mortgage system, which confines banks and other mortgage makers to doing just one thing -- connecting lenders with borrowers, not leveraging the taxpayer. And we need the government to directly oversee the mortgage initiation process, organize a competitive market in home loans, and fully disclose all the details of mortgages on the Web so investors in these loans will know what they are buying. DUH YOU MEAN LIKE PUTTING GLASS STEAGALL BACK ON THE BOOKS :shock: :shock: hehehehe he just didn't mention it, did he? and he wants to ramp up securitization BUT LET MUTUTAL FUNDS DO THE DAMAGE............and let government do all the originating HEAR THAT PRIVATE ENTERPRISE BOYS STILL WORKING IN THE INDUSTRY.......... sorry no fix in this article, just MOVING THE CHAIRS ON THE TITANIC when you hear someone in charge FINALLY talk about putting glass steagall on the books not caring if the impeached stain and robert rubin and alan greenspan GO DOWN then you will know we are getting close to STOPPING THE BLEEDING........... we still have the depression to live thru but the bleeding with be stopped......... Permalinkadd a comment | go to forum thread
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