Saturday, November 6, 2010

If Fannie Mae Asks for Money after 4 PM on a Friday, and No One is Around to Hear It, Does it Make a Sound?

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It is quite amusing there are people in our government (hi Tim) who are purposefully pushing Fannie Mae requests for more taxpayer money out after 4 PM on a Friday when most of the speculating world is headed home or to the bars.  But then again, this is the same government that used Christmas Eve 2009 as a moment to hand the U.S. taxpayer unlimited liability for the next 2 years on FanFredron (Fannie + Freddie + Enron).    [Jan 5, 2010: WSJ - The Treasury Department's Christmas Eve Masscare of the US Taxpayer

So just between you and me.... this might (or might not of) happened Friday after 4 PM.

  • Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower loss in the third quarter.
  • The $2.5 billion in additional aid that Fannie is asking for compares with a request for $1.5 billion in the second quarter.Fannie Mae said Friday it lost $3.46 billion, or 61 cents a share, in the July-September quarter. It compares with a loss of $19.8 billion, or $3.47 a share, in the third quarter of 2009. (second derivative improvement, yo!)
  • Thus far, the 2 government agencies have request $133.4 billion

On the plus side we are so immune to big dollars nowadays that $100 BILLION is nothing...heck that is only 1/13th of the annual deficit, and one month of QE by the Fed.  Peanuts. 


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