Posts filed under “Bailouts”

Gross on PIMCO’s Fannie Trade

Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., talks with Bloomberg’s Tom Keene and Pimm Fox about the impact of the U.S. government’s takeover of Fannie Mae and Freddie Mac on Pimco’s business and mortgage debt, and the outlook for Federal Reserve monetary policy.

click for video

Gross

00:01 Impact of Fannie, Freddie takeover on Pimco
02:18 Effect on housing market; foreign investors
04:24 Reasons behind takeover; Fed monetary policy
06:18 Outlook for U.S. mortgage market
Running time 07:36

Last Updated: September 7, 2008 21:21 EDT

Category: Bailouts, Video

Fannie versus Freddie

Category: Bailouts

NPR Radio on Fannie, Freddie

Category: Bailouts, Media, Real Estate

How Finance Works, by Jim Flora

Category: Bailouts, Federal Reserve

Weekend Bailouts and Subsequent Market Reactions

Category: Bailouts, Markets, Psychology, Taxes and Policy

Comparing Fannie to Bear

Interesting video discussion by John Authers of the FT:

click for video:
Freddie_bear

via FT, September 8 2008,

Category: Bailouts, Trading, Video

Futures Up Triple Digits on Bailout

Category: Bailouts, Markets, Trading

Fannie & Freddie Weekend Wrap Up/Linkfest

So much for a relaxing weekend! We spilled plenty of pixels on Fannie (FNM) & Freddie (FRE)this weekend, as did lots of other folks. What follows is all of the relevant commentary I could scratch together:

Here’s TBP recap:

Treasury Takeover of GSEs: 10 Key Points

Fannie & Freddie Bailout:  In terms of Conservatorship, Management, Shareholders,  Mortgages, Legislation, Foreign Holders,  Financial sector, Politics, Timing, & GSE Insolvency

Here Comes the Half Trillion Dollar Fannie/Freddie Bailout!

All of the Treasury, Federal Reserve and FDIC news releases:

Treasury Department
http://treasury.gov/press/releases/hp1129.htm

Treasury Department Reports (PDFs):

 

Federal Reserve
http://www.federalreserve.gov/newsevents/press/bcreg/20080907a.htm

Chairman Bernanke
http://www.federalreserve.gov/newsevents/press/other/20080907a.htm

FDIC React to Takeover
http://www.fdic.gov/news/news/press/2008/pr08078.html

Fannie Mae & Freddie Mac Shareholder Ownership, via MSN:

Federal National Mortgage Association: Ownership

Freddie Mac: Ownership   

Video Coverage:

Treasury News Conference:

Treasury Unveils Takeover of Freddie and Fannie – Part 1

Treasury Unveils Takeover of Freddie and Fannie – Part 2

Treasury Unveils Takeover of Freddie and Fannie – Part 3

John Authers, FT

GSE Bazooka Fired  Ticker Forum, Karl Denninger (Video) 

 

Wall Street Research

Bringing Out the “Bazooka”  David A. Rosenberg, Merrill Lynch (PDF)   

First thoughts on the market impact of the Treasury’s GSE plan, Goldman Sachs (PDF)

Paulson Begins Gradual Wind-Down of GSEs within Conservatorship,  Institutional Risk Analyst      

Pershing Square Capital Letter to Treasury Department Regarding Fannie and Freddie

What the Mainstream Media had to say:

Monday, September 8, 2008

Mounting Woes Left Officials With Little Room to Maneuver WSJ
http://online.wsj.com/article/SB122083060663308415.html

Fannie, Freddie Credit-Default Swaps May Be Settled Bloomberg

http://www.bloomberg.com/apps/news?pid=20601087&sid=ajsxbVS.W2lQ&

U.S. To Take Over Mortgage Giants Fannie, Freddie NPR Audio   
http://www.npr.org/templates/story/story.php?storyId=94365278&ft=1&f=1001

The Dilemma of Fannie and Freddie  NYT
http://www.nytimes.com/2008/09/08/business/08norris.html

In Crisis, Paulson’s Stunning Use of Federal Power  Washington Post

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/07/AR2008090702486.html

The How, Why and What Of Fannie-Freddie Plan  MORNING BRIEF 

http://online.wsj.com/article/SB122085653625309655.html

  


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Category: Bailouts, Credit, Financial Press, Weblogs

Treasury Takeover of GSEs: 10 Key Points

Category: Bailouts, Credit, Real Estate, Taxes and Policy

Treasury Announcements on Fannie/Freddie

Here are the official statements on the Fannie & Freddie bailouts:

Statement by Secretary Henry M. Paulson, Jr. on Treasury and Federal
Housing Finance Agency Action to Protect Financial Markets and Taxpayers:

Good morning. I’m joined here by Jim Lockhart, Director of the new independent regulator, the Federal Housing Finance Agency, FHFA.

In July, Congress granted the Treasury, the Federal Reserve and FHFA new authorities with respect to the GSEs, Fannie Mae and Freddie Mac. Since that time, we have closely monitored financial market and business conditions and have analyzed in great detail the current financial condition of the GSEs – including the ability of the GSEs to weather a variety of market conditions going forward. As a result of this work, we have determined that it is necessary to take action. (continued after jump)

-Treasury Department, September 7, 2008
http://treasury.gov/press/releases/hp1129.htm

Treasury Department Reports:

FHFA Director Lockhart Remarks on Housing GSE Actions
Fact Sheet: FHFA Conservatorship
Fact Sheet: Treasury Preferred Stock Purchase Agreement
Fact Sheet: Treasury MBS Purchase Program
Fact Sheet: Treasury GSE Credit Facility

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Category: Bailouts, Credit, Federal Reserve, Real Estate, Taxes and Policy