Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets
By Dawn Kopecki
Oct. 11 (Bloomberg) -- Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.
Fannie and Freddie began notifying bond traders last week that each company needs to buy $20 billion a month in mostly subprime, Alt-A and non-performin
Stocks on Wall Street sold off into Friday's close following a vote by the House of Representatives to approve the Treasury Department's $700 billion bailout package .
The three major indices finished near their session lows. The Dow Jones Industrial Average , previously up as much as much as 313 points, ended down 157.15 points, or 1.5%, at 10,325.70, and the S&P 500 gave back 15.04 points, or 1.4%, at 1099.24. The Nasdaq lost 29.33 points, or 1.5%, to 1947.37.
Friday's performance marked a discouraging end to an ugly week. In five days of tradin
The top executives at AIG , Freddie Mac , Fannie Mae , Lehman and Goldman Sachs pulled down more than $2 billion in pay over the past five years according to a new analysis by a professor at San Diego State University’s Charles W. Lamden School of Accountancy, Dr. David DeBoskey .
Henry Paulson, who in his current role as Treasury Secretary is pushing for a bank bailout, accounts for $82 million of the total. That was his
Freddie Mac Sells Bills At Higher Rates-Reuters Monday, 22 Sep 2008 10:14am EDT
Reuters reported that Freddie Mac's $2 billion two part bill sale was sold at higher interest rates compared with the last week's sales of the same maturities. Freddie Mac sold $1 billion of three-month bills due December 22, 2008 at a 2.450% rate, compared with a 2.100% rate for $1 billion of the same maturity bills sold on September 15. Freddie Mac also sold $1 billion of six-month bills due March 23, 2009 at a 2.810% rate, versus a 2.350% rate for $2 billion sale of the same mat
Freddie Mac (NYSE: FRE) said today that it received a notice from the New York Stock Exchange (NYSE), warning that the mortgage firm could be delisted due to its rock-bottom share price. FRE has been trading below $1 for more than 30 days now, and must notify the exchange by December 2 whether it intends to rectify the problem.
If Freddie does decide to meet the NYSE's listing requirements, it will have until mid-May to address the share-price issue; if not, its common stock and preferred stock are subject to suspension
BAC, GS, AXP, FNM, MER printed new 20-day lows. XLF is very close to its lows. Multiple positive divergences of MACD. It is now moving within a descending channel.
In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days moving average of the close. The background is Green when the close is > than the moving average. Red when it is below and yellow when it crosses. + and - indicate the slope of the moving average.
RANGE ANALYSIS I have also programmed Tradestation Radarscreen to display: - range of the past 20 trading sessions (%); -...
BAC, GS, AXP, FNM, MER printed new 20-day lows. XLF is very close to its lows. Multiple positive divergences of MACD. It is now moving within a descending channel.
In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days moving average of the close. The background is Green when the close is > than the moving average. Red when it is below and yellow when it crosses. + and - indicate the slope of the moving average.
RANGE ANALYSIS I have also programmed Tradestation Radarscreen to display: - range of the past 20 trading sessions (%); -...
"the blog was not about politics before and now after the election you take shots at the new admin, so you starting to dilute your blog focus, which I thought was about undervalued companies and business.
As a reader i am not really interested in your political views, actually I am not interested in politics at all. so you can choose to continue to obsess about obama and whatever and I choose to stop visiting and reading."
Where to start? How about a quiz.
- Can anyone name the largest investor in US financial companies? - Can anyone name the ent...
I WOULD NOT BE SHORT THESE TWO
- THEY ARE OPENING FED WINDOW AND THAT IS ONLY IF THEY NEED IT. I THINK THEY HAVE ENOUGH CASH FOR NOW
BE VERY CAREFULL FOLKS ON THIS
My New Buddy Freddie
- I think this is a great long term play. The stock has been discharged from the operation theatre, though still bruised up.. its on it's way to recovery
FNM/FRE - I am 100% not short these stocks.
- FNM/FRE - The Fed has intervened and basically made it hard to stay short these things. While ultimately they will both be at zero, unless the Fed rea...
Closing out my Short on FNM and FRE
- I am closing my short positions in Fannie Mae and Freddie Mac just because the easy money has been made but I still wouldn't not touch the equities in
More bad news for the financial sector
- Bond manager Bill Gross wants to spread the bailout wealth. Gross says in a commentary posted on the Pimco Web site Thursday that the government must â...
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About Freddie Mac
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