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CFOZone Experts

Opinions and views from expert CFOZone members.

Tag >> Fannie Mae
Aug 13
2010

Time to keep subsidizing home prices

Posted by Ron F in RegulationrecoveryrecessionFreddie Macfinancial crisisFederal ReserveFASBFannie MaeemploymentCareers/Managementbankruptcybanking industrybailoutsAccounting

Ron F

I have to disagree with my colleague Steve Taub on this, not because my heart bleeds for jobless, underwater homeowners, but to keep foreclosures from driving home prices ever downward.

Here's the thing: What is the "natural" price that Steve wants the market to find?

Aug 02
2010

Life after FinReg: What’s next?

Posted by mcole in RiskRegulationFreddie MacFannie MaeCreditcompliancebonds

mcole

The recently enacted financial reform bill addresses most aspects of the financial services industry. But there are still two major areas which still need the attention of lawmakers--government-sponsored enterprises (GSEs) and covered bonds. 

Of the two, the most needed reform is that of GSEs, as Hank Paulson brought up in an op-ed to the Washington Post last week. 

Jun 16
2010

Fannie, Freddie ordered to delist

Posted by Stephen Taub in The Federal Housing Finance AgencyOver the Counter Bulletin BoardNew York Stock ExchangeFreddie MacFannie Maedelistcompliance

Stephen Taub

More woes for Fannie Mae and Freddie Mac.

The government agency that oversees them has ordered to two mortgage giants to delist their common and preferred stock from the New York Stock Exchange and any other national securities exchange.

May 26
2010

Global banks, global problems

Posted by Ron F in unemploymentRiskjoblessnessfinancial crisisFederal ReserveFannie Maeeuropeeconomydemanddebtclimate changeCareers/ManagementbubblesBanksBanking

Ron F

Before I get to the news (which involves the problems of European banks), let me bury the lede and offer up a bit of perspective. Yes, that's totally bass ackwards, but indulge me for a few grafs. (Hey, this is the web.)

We've recently gotten grief from friends here and there about being too negative about the economy. So we've been doing our damndest of late to ensure a "balanced" approach, seeing the glass half full as often as empty, so to speak, or walking on the sunny side of the street in addition to the shady one. You get the picture. Well, sorry, folks, but sometimes reality won't budge.

May 10
2010

What to do about Fannie and Freddie

Posted by Ron F in Timothy GeithnerRiskObama AdministrationGeithnerFannie MaeCongresscomplianceBanksbanking reformBankingbailouts

Ron F

Gretchen Morgenson's piece in Sunday's Times points out how Fannie Mae and Freddie Mac are serving as a source of back-door bailouts for the banks.

And she quotes Dean Baker, co-director of the Center for Economic Policy Research in Washingto,n DC, to the effect that their continuing status as half governmental agency, half private enterprise creates an irreconcilable conflict between taxpayers and shareholders.

Dec 29
2009

Fresh funds for Fannie and Freddie show housing still needs help

Posted by Ron F in recoveryrecessionObama AdministrationFannie MaeBanksbailout

Ron F

I wasn't sure what to make of some of the rumblings in the blogosphere over the disclosure on Christmas Eve that the Treasury had extended fresh capital to Fannie Mae and Freddie Mac.

Interesting timing, for sure. The Treasury clearly wanted to minimize the bad press that would attend the news. But the timing only got the tin foil atop the heads of the more advanced theorists flashing away big time.

Sep 04
2009

Listing rules don’t apply to Fannie Mae

Posted by MQuinn in New York Stock ExchangelistingFannie Maecompliance

MQuinn

Fannie Mae announced on Friday that the New York Stock Exchange notified it that it has regained compliance with the exchange's minimum price standard to continue listing of its common stock.

Wow, what a relief.

Fact is, exchange-listing rules haven't applied to the government-sponsored enterprise that now resides in conservatorship for some time.

Even after being rocked by an accounting scandal in 2004, Fannie's stock remained listed even though it wouldn't become current on its financial reporting until 2008.

During that time, Fannie got reprieve after reprieve.

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