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Posts Tagged ‘Putting Perfume on a Pig’

Freddie Mac, Fannie Mae Deja Vu?: Part II

Posted by Larry Doyle on April 8th, 2010 11:51 AM |

On Christmas Eve 2009, the Obama administration provided a blank check to the wards of the state known as Freddie Mac and Fannie Mae. (“Fannie and Freddie’s Huge Christmas Bonus”)

What other quasi-government institutions have a very similar business profile as Freddie and Fannie? The Federal Home Loan Bank system, acronym FHLBs, commonly referred to within the financial industry as FLUBs. I will reserve comment on that moniker. Ten months ago, I questioned whether the dynamics at work within the FHLB system would be the equivalent of what has transpired at Freddie and Fannie. I wrote “Freddie Mac, Fannie Mae Deja Vu?” and highlighted:

Can our economy absorb another financial hit of the magnitude of Freddie Mac and Fannie Mae? (more…)






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