“The Obama administration is considering an overhaul of Fannie Mae and Freddie Mac that would strip the mortgage finance giants of hundreds of billions of dollars in troubled loans and create a new structure to support the home-loan market, government officials said.”
White House mulls major Fannie-Freddie shakeup [SFGate]

Comments from Plugged-In Readers

  1. Posted by anon

    The Administration is already backing away from the story:
    Probably indicates that Goldman Sachs hasn’t given its approval yet.

  2. Posted by LMRiM

    If this Administration is backing away from the story, then it’s a done deal.

  3. Posted by jonj

    I d much rather see the former officers stripped of their ill gotten gains. Present boss is from Puget Sound and a real winner.

  4. Posted by Chad

    Awesome. I “heart” u President Obama 🙂

  5. Posted by Chad

    anon, you are right. Goldman Sachs is very closely tied to Washington, more than most people would ever realize.
    See “The Quiet Coup” by MIT Sloan Professor and ex IMF Chief Economist Simon Johnson.

  6. Posted by outsidelookingin

    If GSEs are restructured and a new entity was created, would it have any effect or over ride the new idiotic appraiasal rules in place?

  7. Posted by Robert

    CR reports that Fannie lost 14.8b in Q2 and is requesting almost 10.7b from Treasury. Currently 171b in loans guaranteed by FNM are non-performing.

  8. Posted by Legacy Dude

    More importantly, IMO, is that the Fannie/Freddie bailout now exceeds the amount of money destroyed in the “rescue” of AIG. And it ain’t even close to over yet. Anything to help Wile E. Coyote hit a few ledges on his way down, I guess.

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