Schiff Report 5 Nov 09

boosted · 11-05-2009, 02:14 PM

Karl Denninger also talks about own to rent failure of a program here

http://market-ticker.denninger.net/a...S-Fraudie.html

P-SPEC · 11-05-2009, 06:14 PM

excellent...set this as my facebook status to educate idiots.

boosted · 11-05-2009, 11:00 PM

Fannie Seeks $15 Billion in U.S. Aid After Ninth Straight Loss

By Dawn Kopecki

Nov. 5 (Bloomberg) -- Fannie Mae, operating under a federal conservatorship, said it will seek $15 billion in aid from the U.S. Treasury as its ninth straight quarterly loss once again drove the mortgage-finance company’s net worth below zero.

A third-quarter net loss of $18.9 billion, or $3.47 a share, pushed the company to request its fourth draw on a $200 billion lifeline from the government, Washington-based Fannie Mae said in a filing today with the Securities and Exchange Commission.

Fannie Mae, which posted $101.6 billion in losses over the previous eight quarters, has already taken $44.9 billion in federal aid since April. Its shares, which peaked at $87.81 in December 2000, closed at $1.12 today in New York Stock Exchange composite trading.

They seem to be in good enough shape to take on all of these underwater mortgages

11-05-2009, 02:14 PM	#1
boosted Moderator Join Date: Jul 2002 Location: Bangkok, Thailand Posts: 13,537	Schiff Report 5 Nov 09 Karl Denninger also talks about own to rent failure of a program here http://market-ticker.denninger.net/a...S-Fraudie.html __________________

11-05-2009, 06:14 PM	#2
P-SPEC Moderator Join Date: Jul 2002 Location: bewbs Posts: 24,878	excellent...set this as my facebook status to educate idiots. __________________ VictorTylinski's Gamercard

11-05-2009, 11:00 PM	#3
boosted Moderator Join Date: Jul 2002 Location: Bangkok, Thailand Posts: 13,537	Fannie Seeks $15 Billion in U.S. Aid After Ninth Straight Loss By Dawn Kopecki Nov. 5 (Bloomberg) -- Fannie Mae, operating under a federal conservatorship, said it will seek $15 billion in aid from the U.S. Treasury as its ninth straight quarterly loss once again drove the mortgage-finance company’s net worth below zero. A third-quarter net loss of $18.9 billion, or $3.47 a share, pushed the company to request its fourth draw on a $200 billion lifeline from the government, Washington-based Fannie Mae said in a filing today with the Securities and Exchange Commission. Fannie Mae, which posted $101.6 billion in losses over the previous eight quarters, has already taken $44.9 billion in federal aid since April. Its shares, which peaked at $87.81 in December 2000, closed at $1.12 today in New York Stock Exchange composite trading. They seem to be in good enough shape to take on all of these underwater mortgages __________________

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