Fannie Mae

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Fannie/Freddie Rescue Not Radical Enough
Fannie/Freddie Rescue Not Radical Enough
OPINION
Sep 9, 2008 11:33 AM CDT

Fannie/Freddie Rescue Not Radical Enough

Feds must return GSEs to original purpose of providing liquidity

(Newser) - The Treasury’s rescue plan for Fannie Mae and Freddie Mac may be “superbly crafted,” Steven Rattner writes in the Washington Post, but it won’t solve the government-sponsored entities’ problems. Continuing as private-sector enterprises is a setup that “simply doesn’t work.” The GSEs had...

Fannie, Freddie CEOs in Line for Millions in Severance

Mudd, Syron each stand to net at least $6M; critics rip 'pay for failure'

(Newser) - The CEOs of Freddie Mac and Fannie Mae will receive millions in severance pay, pension payouts, and other benefits after the government’s takeover of the mortgage giants, the Los Angeles Times reports. Fannie’s Daniel Mudd stands to take away $7.3 million, and Freddie’s Richard Syron will...

Bailout Likely to Sink Some Small Banks

Those with significant Fannie/Freddie stock face capital crunch

(Newser) - The government’s takeover of Fannie Mae and Freddie Mac, and the resulting crash of the value of the companies’ shares, has started a domino effect that likely will push some smaller banks into failure, the Washington Post reports. Some institutions heavily invested in the seemingly safe stocks will find...

Battle Lines Drawn in Freddie, Fannie Fight

Making mortgage giants public, breaking them up or nursing them to health seen as options

(Newser) - What Freddie Mac and Fannie Mae look like in the future—and whether they continue to exist in a recognizable form at all—depends on how Washington looks next year, the New York Times reports. The battle already has begun, with the White House and congressional Democrats blaming each other...

In Times of Crisis, Paulson's the 'Decider'
In Times of Crisis, Paulson's the 'Decider'
ANALYSIS
Sep 9, 2008 6:12 AM CDT

In Times of Crisis, Paulson's the 'Decider'

Fannie-Freddie bailout shows Treasury sec enjoys a free hand

(Newser) - Last week, a small group met in the Oval Office to discuss the impending takeover of Fannie Mae and Freddie Mac. But while President Bush convened the meeting, there was no mistaking who was running the show: Hank Paulson, who had first floated public ownership and who oversaw every aspect...

Bailout Rally Tails Off Late
 Bailout Rally Tails Off Late 
MARKETS
Sep 8, 2008 3:38 PM CDT

Bailout Rally Tails Off Late

Persistent worries about the non-financial economy temper gains

(Newser) - US stocks rallied as traders bet the bailout of Fannie Mae and Freddie Mac would help the economy recover, but lost some of those gains—with the Nasdaq even flirting with losses—as the day wore on, MarketWatch reports. Nonetheless, the Dow gained 289.78, closing at 11,510.74....

Housing Will Bottom June 30, 2009: Cramer
Housing Will Bottom June 30, 2009: Cramer
OPINION
Sep 8, 2008 2:29 PM CDT

Housing Will Bottom June 30, 2009: Cramer

Bombastic guru lists 10 signs of a real-estate turnaround

(Newser) - Jim Cramer has spent over a year “shouting in my usual unhinged way” about the bleak real estate market, he writes in New York. But now he’s so confident housing’s headed for a bottom that he’ll name the exact date: June 30, 2009. Why?
  1. New home
...

US Must Strike Fine Balance on Mortgage Bailout
US Must Strike Fine Balance on Mortgage Bailout
Analysis
Sep 8, 2008 11:34 AM CDT

US Must Strike Fine Balance on Mortgage Bailout

Deficit makes coordinated response economically, psychologically crucial

(Newser) - A global storm continues to threaten the world’s economies, and the US government takeover of Fannie Mae and Freddie Mac is just one step, albeit a major one, toward recovery. Whether the latest attempt to right the ship succeeds "ultimately boils down to two big issues," writes...

US Stocks Soar on Fannie/Freddie Takeover
US Stocks Soar on Fannie/Freddie Takeover
MARKETS
Sep 8, 2008 9:40 AM CDT

US Stocks Soar on Fannie/Freddie Takeover

Dow up 300 early as investors bet on broader recovery

(Newser) - Stocks surged this morning as investors rushed to lay bets on a broad economic recovery following the weekend announcement that the US government will bail out mortgage lenders Fannie Mae and Freddie Mac. The major indices jumped, with the Dow Jones industrials gaining more than 300 points. Meanwhile, bond prices...

Fannie, Freddie Deal May Ease Rates, Cut Foreclosures

Federal takeover may help refresh housing market as dust settles

(Newser) - How will the government’s seizure of Fannie Mae and Freddie Mac affect homeowners and buyers? In the short term, the New York Times says, interest rates may fall some, but probably not enough to stop the slide in home prices. Some facing foreclosure could have a better chance at...

Stocks Rally Strong on Fannie, Freddie Takeover

Europe, Japan, US futures see market surge

(Newser) - European and Japanese stocks saw their biggest surge since January and US futures climbed amid news of the Treasury Department’s plan to take charge of Fannie Mae and Freddie Mac, Bloomberg reports. Europe's UBS AG, pounded by subprime losses, and Japan’s Mizuho Financial Group, its biggest bank by...

Feds Outline Fannie, Freddie Bailout

Gov't will step in as conservator; Treasury will buy preferred stock

(Newser) - Citing Fannie Mae and Freddie Mac as "critical to turning the corner on housing," Treasury Secretary Henry Paulson this morning announced a bailout of the beleaguered mortgage companies that includes his agency purchasing preferred stock, while the Federal Housing Finance Agency will step in as conservator. Additionally, Treasury...

Paulson Tacks Toward Middle on Fannie, Freddie Rescue

Conservatorship would toe line between opposing views

(Newser) - As concerns mount for troubled mortgage giants Fannie Mae and Freddie Mac, two camps have emerged: one, led by free-market analysts, is pushing a temporary government takeover of the companies; the other, led by congressional Democrats, would rather see billions of tax dollars rescue the firms. Treasury secretary Henry Paulson...

Juggled Books at Freddie, Fannie Sparked Fed Takeover

Situation more dire than accounting revealed, probers found

(Newser) - Federal advisers pushed for a government takeover of Freddie Mac and Fannie Mae after discovering fuzzy accounting that failed to fully reveal the dire nature of the companies' financial situation, reports the New York Times. The practices, while not illegal, overstated the mortgage giants' capital cushions while attempting to delay...

Fannie, Freddie Deal Will 'Stem the Mess'
Fannie, Freddie Deal Will 'Stem the Mess'
OPINION
Sep 6, 2008 6:42 PM CDT

Fannie, Freddie Deal Will 'Stem the Mess'

'There will be no reason to foreclose' after takeover: Cramer

(Newser) - Jim Cramer predicts that a lot of people will whine about the federal takeover of Fannie Mae and Freddie Mac—especially those shorting them—and say it won't help. But they're dead wrong, Cramer writes on TheStreet.com: it's going to turn housing around and bring the rest of the...

Feds Plan to Take Over Freddie, Fannie

(Newser) - The White House told ailing mortgage giants Fannie Mae and Freddie Mac today that Washington will effectively take them over, the Wall Street Journal reports. The Treasury move will leave both companies functioning but replace their executives, inject capital, and likely leave shareholders with little or nothing. The move aims...

Fannie-Freddie Merger: The Math Adds Up
Fannie-Freddie Merger:
The Math Adds Up
OPINION
Sep 2, 2008 10:54 AM CDT

Fannie-Freddie Merger: The Math Adds Up

As both companies plummet, combining them might make sense

(Newser) - With Fannie Mae and Freddie Mac struggling to stay afloat, arguments for a merger are gathering steam. “Sometimes size can be a strength,” writes Andrew Ross Sorkin in the New York Times. The companies spent $1.825 billion in total overhead in the first half of 2008 doing...

Fannie, Freddie Employees Watch Assets Plunge

(Newser) - As the stock prices of mortgage giants Fannie Mae and Freddie Mac plunged 80% this year, employees of the companies helplessly watched their fortunes sink with the ship, the New York Times reports. For instance, Fannie Mae’s workers owned $116 million in company stock at the end of 2006;...

Top Execs Booted at Fannie Mae
 Top Execs Booted at Fannie Mae
Aug 28, 2008 2:48 AM CDT

Top Execs Booted at Fannie Mae

Shake-up aims to boost investor confidence in hemorrhaging firm

(Newser) - Battered mortgage-finance provider Fannie Mae has ousted three top executives in a bid to boost investor confidence, Bloomberg reports. Fannie Mae CEO Daniel Mudd is replacing his chief officers for finance, business and risk management as he struggles to prove that the company has enough capital to ride out the...

Stocks Mixed as Oil Surges
 Stocks Mixed as Oil Surges 
MARKETS
Aug 21, 2008 3:22 PM CDT

Stocks Mixed as Oil Surges

Georgian conflict raises supply fears; analysts downgrade financials

(Newser) - Stocks saw mixed results today as the Dow and S&P 500 managed to claw back from early losses due to surging oil and a weak dollar, the Wall Street Journal reports. The Dow closed up 12.78 at 11,430.21; the Nasdaq fell 8.70 to 2,380....

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