Comments on: Fannie Mae is Failing Despite Bailout http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/ Help Stop the Damaging Corporate Giveaways Tue, 18 Oct 2011 05:48:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bailout Plan Failing - Let’s Add More Money | EndTheBailouts.com http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-582 Bailout Plan Failing - Let’s Add More Money | EndTheBailouts.com Sat, 29 Nov 2008 01:03:49 +0000 http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-582 [...] some companies using their bailout cash to throw executive parties and others still failing despite the money, it’s pretty brave to suggest that the taxpayer continue to fund this failing plan. If $700 [...] [...] some companies using their bailout cash to throw executive parties and others still failing despite the money, it’s pretty brave to suggest that the taxpayer continue to fund this failing plan. If $700 [...]

]]> By: Fannie Mae camino de la bancarrota a pesar del rescate del gobierno http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-581 Fannie Mae camino de la bancarrota a pesar del rescate del gobierno Wed, 12 Nov 2008 07:39:09 +0000 http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-581 [...] Fannie Mae camino de la bancarrota a pesar del rescate del gobiernoendthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-... por Hugolp hace pocos segundos [...] [...] Fannie Mae camino de la bancarrota a pesar del rescate del gobiernoendthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-… por Hugolp hace pocos segundos [...]

]]> By: Keith Wright http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-580 Keith Wright Tue, 11 Nov 2008 21:03:15 +0000 http://endthebailouts.com/2008/11/11/fannie-mae-is-failing-despite-bailout/#comment-580 Ok, folks: the Treasury has made $100B available to the GSEs. It has not yet had to spend any of it. Fannie's $29B in loss this quarter is mostly a recognition that it will not get to use any of tax write-offs because it won't see any profits for a while, and that it needs to sock away more money to pay up as more foreclosures happen in the future (Cash in loss reserves do not get to count as assets because it is as if they are as good as already spent). Fannie is now on the verge of needing it's first pay out from the feds, but actually hasn't quite gotten there (I believe they are predicting to need some funds by the end of the year). This is a very different situation than AIG, which has already received two or three large lump sums from the Treasury. I'd also like to throw in that I think the stink about Fannie's golf trip to Texas for $6k is way overblown, considering how spending just $300 per person is so astoundingly thrifty for such a trip. Ok, folks: the Treasury has made $100B available to the GSEs. It has not yet had to spend any of it. Fannie’s $29B in loss this quarter is mostly a recognition that it will not get to use any of tax write-offs because it won’t see any profits for a while, and that it needs to sock away more money to pay up as more foreclosures happen in the future (Cash in loss reserves do not get to count as assets because it is as if they are as good as already spent). Fannie is now on the verge of needing it’s first pay out from the feds, but actually hasn’t quite gotten there (I believe they are predicting to need some funds by the end of the year).

This is a very different situation than AIG, which has already received two or three large lump sums from the Treasury.

I’d also like to throw in that I think the stink about Fannie’s golf trip to Texas for $6k is way overblown, considering how spending just $300 per person is so astoundingly thrifty for such a trip.

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