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Are Fannie and Freddie Worthless?

Discussion of the condition of the general economy. Post links to articles of interest, but do not post copyrighted material which violates fair use.

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Are Fannie and Freddie Worthless?

Postby Steve Owen on Mon Oct 26, 2009 5:03 pm

Yes, they are worthless...

http://seekingalpha.com/article/167386-fannie-and-freddie-worthless?source=email

KBW downgraded the shares to Underperform and lowered the price target to zero from $1.


I've always kind of thought they were worthless... but, I was talking about something different than stock price.

No. They are not worthless... yet....

http://seekingalpha.com/article/167808-fannie-and-freddie-not-worthless-yet?source=email

From Warm_paw:

Speculating is fine, you'd have better luck in Vegas playing black jack, but after the next wave of Option ARMS coming to maturity it's going to be obvious the govt will bankrupt the country continuing to prop up the GSE's.


Apparently, they are worse than worthless.
Did you ever feel like the world is a tuxedo and you're a pair of brown shoes? - George Gobel
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Re: Are Fannie and Freddie Worthless?

Postby Francois K. Gregoire on Mon Oct 26, 2009 6:17 pm

Maybe, but it apparently not prevent some folks from being paid BIG BUCKS!

ALL BUSINESS: Generous pay for new Freddie Mac CFO

The pay package given to Freddie Mac's new chief financial officer should have sent a message from Washington to corporate America about how executive compensation standards must change. Instead, it did just the opposite.

The government-controlled mortgage finance company is giving CFO Ross Kari compensation worth as much as $5.5 million. That includes an almost $2 million cash signing bonus and a generous salary that could top $2.3 million.

The Federal Housing Finance Agency, which oversees Freddie Mac, approved the pay package. A spokeswoman pointed to a statement that justified the agency's approval of the pay, which was done in part because the amount was comparable to what others in the financial services industry make.

More, and link to full story at APPRAISER ACTIVE
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