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?

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. 

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012