Fannie & Freddie Weekend Wrap Up/Linkfest

Sunday, September 07, 2008 | 03:00 PM

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

Treasury Department Reports (PDFs):


Federal Reserve

Chairman Bernanke

FDIC React to Takeover

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

GSE Rescue Plan: Market and Economic Implications  Morgan Stanley

Mark-to-Market Now Mark-to-Taxpayer  First Trust

Welcome to the U.S.S.R. (United States Socialist Republic)  Citigroup  (PDF)

The end of America's bad mortgage dream  Financial Post

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

Unblocking the arteries, price support and intervention Nomura Securities
(Blocked_Arteries_PArt 1.pdf ) (Part II PDF)  (Blocked_arteries Part 3.pdf )

The Long and Short of the Fannie Mae and Freddie Mac Rescue   Northern Trust   (Web PDF)

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

“Somebody’s got some splain’n to do!”  Raymond James

Deja Vu (Again)  John P. Hussman

Hank Punts on First Day of Pro Football Season  Cumberland Advisors

Welcome To The Mortgage Business  Ciovacco Capital Management

Pershing Square Capital Letter to Treasury Department Regarding Fannie and Freddie

This Crisis Is Not Over  John Mauldin, Paul McCulley, Michael E. Lewitt



What the Mainstream Media had to say:

Wednesday, September 10, 2008

Reduced Exit Packages Urged for Ousted Executives  NYT

Government intervention is losing its market mojo  WSJ

Fannie, Freddie Takeover Jolts Preferred Market as Prices Fall   Bloomberg

Federal Mortgage Success Stories  NYT

Tuesday, September 9, 2008

Fannie Mae, Freddie `House of Cards' Prompts Takeover  Bloomberg

Fannie, Freddie To Be Removed From S&P 500  WSJ

A Risky High-Wire Act  NYT 

Fat Fannie and Freddie  L.A. Times,0,7271059.story

A desperate but necessary bailout    MSN


U.S. Plan Serves as Template For China to Bolster Its Markets  WSJ

Analysts mixed over bailout's impact on builders  MarketWatch

McCain May Privatize Fannie, Freddie; Obama Sees Federal Role  Bloomberg

Freddie's dead    Guardian

A New Fannie and Freddie  Washington Post

Fannie & Freddie: Buying friends in D.C.   CNN/Money

Fannie, Freddie need restructuring to limit risks: IMF   Reuters

Rescue Risks Setting Stage For New Woes  WSJ

Fannie, Freddie Takeover Ends Lobbying Effort Bigger Than GE's   Bloomberg

Reinventing Two Mortgage Giants: A Big Rebuild or a Teardown?  NYT

Mortgage Bailout Is Greeted With Relief, Fresh Questions  WSJ

Sen. Dodd Questions Fannie-Freddie Takeover  NPR

Rescue of Mortgage Giants Displays Paulson’s Clout  NYT

Bailout Hits U.S. Agenda  WSJ

Monday, September 8, 2008

US Is "More Communist than China": Jim Rogers CNBC

The truth about Fannie and Freddie  Salon

Beginning of the Financial "Surge"   Barron's

Saving the People's Bank of China  Slate

U.S. To Take Over Mortgage Giants Fannie, Freddie NPR Audio

Mounting Woes Left Officials With Little Room to Maneuver WSJ

Fannie, Freddie Credit-Default Swaps May Be Settled Bloomberg

The Dilemma of Fannie and Freddie  NYT

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

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

Few Stand to Gain on This Bailout, and Many Lose NYT

Fannie, Freddie aftershocks: More bank woes CNN/Money

No End Yet to the Capital Punishment  WSJ

As Crisis Grew, a Few Options Shrank to One NYT

U.S. Takeover of Fannie, Freddie Offers `Stopgap'   Bloomberg

U.S. Poised for Bigger Role   WSJ
Mortgage Bailout Marks the Return Of Federal Activism

Fannie, Freddie and You: What It Means to the Public  NYT

Paulson's Seizure  The New York Sun

Big intervention should assure America's recovery  Times of London

Sunday September 7, 2008;

A delicate balance in the Freddie and Fannie action  FT
NOTE:  This is by Mohamed El-Erian, PIMCO's CEO

U.S. Unveils Takeover of Two Mortgage Giants  NYT

and my favorite headline, if only for its uniquely wonderful timeliness:

S&P slashes Fannie, Freddie preferred stock to junk Reuters, September 7, 2008 

Treasury Extends Secured Credit Line to Federal Home Loan Banks   Bloomberg

Washington takes over Fannie Mae, Freddie Mac  MarketWatch

Paulson Engineers US Takeover of Fannie, Freddie  Bloomberg

After The Bailout  Forbes 

Fannie and Freddie 101   CNN/Money

US takes over key mortgage firms  BBC

Fannie, Freddie Takeover Changes the Game,

Takeover seen easing loan crisis  Boston Globe

Fannie, Freddie: The biggest losers  Fortune: names largest shareholders: FRE: Bill Miller, the Legg Mason (12%), Capital Research & Management of Los Angeles, (10%) AllianceBernstein (6%),  Pzena Investment Management, both of New York (5%). FNM: AllianceBernstein (12%), Capital Research (11%), Dodge & Cox 11%).

U.S. Outlines Fan-Fred Takeover  WSJ

U.S. seizes Fannie and Freddie  CNN/Money

US mortgage giants Freddie Mac and Fannie Mae taken into public ownership Guardian

How plan protects taxpayers  CNN/Money


Saturday September 6, 2008:

Paulson Plans to Bring Fannie, Freddie Under Government Control Bloomberg

U.S. Nears Rescue Plan For Fannie And Freddie Washington Post, A01

Questions, and Hope, on Plans for Mortgage Giants NYT

Pulling the Trigger for Fannie and Freddie?   Barron's (Online 9/6/08)

US government takes control of Fannie and Freddie  FT

Friday  September 5, 2008;

U.S. Near Deal on Fannie, Freddie  WSJ Online

Paulson Meets With Bernanke, Fannie Mae, Freddie Mac Chiefs  Bloomberg

Former Regulator: Move On Freddie, Fannie Now Washington Post

U.S. Rescue Seen at Hand for 2 Mortgage Giants   NYT

And what else is being said around the blogosphere:

Fannie and Freddie's Bust and Deeply Flawed Government Bailout  Nouriel Roubini, RGE

Fisher Plays Down Fed Role in Fan-Fred   Real Time Economics

Fannie/Freddie MBS: Have You Ever Seen One? Bill Gross Must Not Have  Mr. Mortgage

Bye Bye Banks: Freddie and Fannie Preferred Holders to Take Big Hits?  naked capitalism

Paulson's Statement on Freddie and Fannie with a Nearly Simultaneous Translation JESSE'S CAFÉ AMÉRICAIN

When markets are wrong -- Why the Fannie-Freddie bailout is a bad sign  L.A. Land

Fannie and Freddie: CDSs, $1.47 Trillion Triggered  The Financial Ninja

Don't Say You Weren't Warned Financial Armageddon

Winners, losers in the U.S. takeover of Fannie/Freddie Money & Co,

Bill Gross Was Correct — Treasury To Take Over Fannie & Freddie   Fundmastery Blog

GSEs and Other Financial Institutions Overstate Capital Base Mish's Global Economic Trend Analysis

“Equal-Weight” a Wipeout? The Least Helpful Calls You Will Get Today   Jeff Matthews Is Not Making This Up

If it's Sunday, it must be bailout time  Blogging Stocks

Who Holds the Old Maid?  John Mauldin, Investor Insight

The Fannie/Freddie Bail-Out: Why Now?

History: Fannie, Freddie Seized by Federal Government Housing Wire

Having It Both Ways  Floyd Norris, NYT

Fannie & Freddie Thoughts  Calculated Risk

Details and Text on the Fannie/Freddie Bailout  Infectious Greed

The Fannie-Freddie bailout: As much as they need  LA Times

Fannie, Freddie, and Schrodinger's Cat Economics Unbound

Fannie/Freddie - Massive Fraud Breakdown  Mr. Mortgage

Bush Administration Social Democracy: Smart or Dumb? The Semi-Daily Journal Economist Brad DeLong

The Reality Based Community and Frannie   Bronte Capital

Freddie, Fannie: No Exit?  EconLog

Freddie, Fannie and (Sort of) Federal Home Loan Bank Bailout  naked capitalism

The Frannie Bailout and the Prisoner's Dilemma    Market Movers

What if we didn't bail out the creditors?  Marginal Revolution

U.S. Government Default: Good, Bad, or Just Plain Ugly?  Liberty & Power

Rescuing Frannie  Market Movers

Why is FRE/FNM Being Underplayed?   Infectious Greed

Fannie and Freddie, and Why the Accounting Gimmicks Continued  Robert Reich

Just one question on the Fannie and Freddie bailout The Mess That Greenspan Made

Paulson Rolls The Dice At Taxpayer Expense  Mish's Global Economic Trend Analysis

Fannie Mae and Freddie Mac reveal some things markets cannot do  Telegraph

The rescue of Fannie and Freddie by Hankie and Feddie  Willem Buiter, FT

Fannie and Freddie Enter the Presidential Race  Washington Wire

Obama, McCain, Fannie and Freddie: A Troubled Love Story  Deal Journal

Fannie and Freddie Go Under: Yes, This Was Predictable  Dean Baker, American Prospect

Freddie-Fannie Takeover: Good news or Bad News?  Economics Unbound

HousingPANIC calls for the resignation of Ben Bernanke, who just weeks ago said Fannie and Freddie would be just fine   HousingPANIC

Older, worthwhile reading:

Fannie Mae Looks Like Hell  November 16, 2007

Fire the bazooka  Economist, Aug 28th 2008

James Surowiecki  THE NEW YORKER    July 28 2008

The way forward for Fannie and Freddie   Lawrence Summers July 27 2008,dwp_uuid=5db90a0e-4e6c-11dd-ba7c-000077b07658.html

Moral hazard misconception  Ricardo Caballero, Martin Wolf, Lawrence Summers
FT  July 14, 2008

Compensating Taxpayers in the Fannie Mae and Freddie Mac Bailouts 
Ingo Walter | Jul 16, 2008

An Analysis of the Systemic Risks Posed by Fannie Mae and Freddie Mac
Elisa Parisi-Capone
RGE, Sep 5, 2006


If I missed anything worthwhile, please add in comments, and I will move the items up top eventually . . .


Sunday, September 07, 2008 | 03:00 PM | Permalink | Comments (54) | TrackBack (1) add to | digg digg this! | technorati add to technorati | email email this post



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» U.S. Takes Over Ailing Mortgage Lenders from Political News and Blog Aggregator
The Bush administration, acting to avert the potential for major financial turmoil, says the federal [Read More]

Tracked on Sep 8, 2008 5:15:07 AM


Any guess which way the futures will react to this? Or how the foreign markets will take this?

Posted by: Spector | Sep 7, 2008 3:15:26 PM

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