Relevant:
- Freddie Mac to Resume Treasury Aid as Accounting Rules Change
- Freddie Mac Will Seek $6 Billion of Treasury Aid After Posting Wider Loss
- Freddie Mac profit jumps; will pay U.S. Treasury $4.4 billion | Reuters
- Freddie Mac's negative net worth raises questions
- August Surprise (Bribe): Massive Mortgage Bailout
2009-08-08 — reuters.com
``This accounting change increased the company’s equity by $5.1 billion. Higher equity equals higher net worth. As long as the company maintains positive net worth, Treasury doesn’t have to provide more bailout funds. Freddie’s total bailout to date, by the way, is $51.7 billion.''
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Comments:
catherine at 01:23 2009-08-09 said:
ACCOUNTING CHANGES EVERYWHERE, those are the GREEN SHOOTS......... just like the imaginary 5.1 billion showing up with a numbers game the unemployment figures are the same. 60 days ago the Fed threw the people over 6 months unemployed to the states. The Fed then sends them stimulus money to pay the claims BUT BUT BUT the numbers get lost............... i.e., GREAT NEWS LESS UNEMPLOYMENT............... Permalinktvsterling at 21:21 2009-08-09 said:
Oh, there's lots of 'Green Shoots' the only problem is they're ASTROTURF. All it is, is attempts to restore the confidence (as in Confidence Game) of the people. Let's start the next bubble! (count me OUT). Permalinkadd a comment | go to forum thread
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