Comments on: Bloomberg: Paulson Seeks Congressional Authority to Bail Out Fannie, Freddie http://www.nakedcapitalism.com/2008/07/blomberg-paulson-seeks-congressional.html Sun, 22 Nov 2009 21:02:38 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Dave Raithel http://www.nakedcapitalism.com/2008/07/blomberg-paulson-seeks-congressional.html#comment-11285 Dave Raithel Mon, 14 Jul 2008 02:54:00 +0000 http://www.nakedcapitalism.com/2008/07/bloomberg-paulson-seeks-congressional-authority-to-bail-out-fannie-freddie/#comment-11285 Ok, let me see now... If I could also tap a window at the Fed at 2.25%, then I could borrow the money to buy some of that $3 billion of paper that Fannie and Freddie need to sell. I could then take that paper and sell it at a discount somewhere, to somebody, and payoff the Fed and keep the difference...<br/><br/>On a serious note: Commendations to the blog, it was here that I first read, months and months and months ago, that Freddie and Fannie would eventually go belly up, the first tipoff being the "spreads" they were having to pay over Treasury debts, and then the fretting about the jumbo loans... Yep, still driving by to gawk at the accident, praying my children won't be in the next collision I spectate.... Ok, let me see now… If I could also tap a window at the Fed at 2.25%, then I could borrow the money to buy some of that $3 billion of paper that Fannie and Freddie need to sell. I could then take that paper and sell it at a discount somewhere, to somebody, and payoff the Fed and keep the difference…

On a serious note: Commendations to the blog, it was here that I first read, months and months and months ago, that Freddie and Fannie would eventually go belly up, the first tipoff being the “spreads” they were having to pay over Treasury debts, and then the fretting about the jumbo loans… Yep, still driving by to gawk at the accident, praying my children won’t be in the next collision I spectate….

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/blomberg-paulson-seeks-congressional.html#comment-11262 Anonymous Mon, 14 Jul 2008 00:06:00 +0000 http://www.nakedcapitalism.com/2008/07/bloomberg-paulson-seeks-congressional-authority-to-bail-out-fannie-freddie/#comment-11262 Does this mean the Fed can purchase the $3 billion tomorrow? Will the public ever know if it is the fed bidding for the debt? Does this mean the Fed can purchase the $3 billion tomorrow? Will the public ever know if it is the fed bidding for the debt?

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/blomberg-paulson-seeks-congressional.html#comment-11258 Anonymous Sun, 13 Jul 2008 23:10:00 +0000 http://www.nakedcapitalism.com/2008/07/bloomberg-paulson-seeks-congressional-authority-to-bail-out-fannie-freddie/#comment-11258 It is outrageous that the government would consider anything other than the most senior debt.<br/><br/>It is a direct transfer payment to banks and external funds from the taxpayer. <br/><br/>I don't agree with the funding prior to a semi-nationalization, but how can they possibly justify such an action. I hope Paulson will be found to a LEGAL failure to manage his fudiciary responsibility. It is outrageous that the government would consider anything other than the most senior debt.

It is a direct transfer payment to banks and external funds from the taxpayer.

I don’t agree with the funding prior to a semi-nationalization, but how can they possibly justify such an action. I hope Paulson will be found to a LEGAL failure to manage his fudiciary responsibility.

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