> But in fact, the way they work is that every time their net worth increases, the government’s senior preferred claim — that $348.4 billion — increases by the same amount. So if they earn $30 billion this year, the government’s claim will increase to $378.4 billion, and the shareholders will be no closer to getting paid than they are now.
DeepYogurt 5 hours ago [-]
Housing bout to get wild
rwbt 5 hours ago [-]
How exactly?
jedberg 5 hours ago [-]
Fannie and Freddie are supposed to be there to stabilizing home lending rates. If they are public and have a profit motive, then their mission changes to profitability over stability.
UncleOxidant 5 hours ago [-]
Weren't they public before the '08 GFC?
jedberg 5 hours ago [-]
Yes. But their mission was still stability. This time around my understanding is that their charter will change.
stonogo 5 hours ago [-]
Yep. How'd that work out?
5 hours ago [-]
r0ckarong 2 hours ago [-]
It's 2008 all over again.
6 hours ago [-]
swarnie 3 hours ago [-]
Coupled with a new Fed chair this is going to be rocket fuel to the housing market. Try not to be the one holding this editions Bear Stearns at the end.
Why no chuck Klarna a banking charter and an IPO while were at it?
idiotsecant 5 hours ago [-]
US speed running the fall of rome.
Rendered at 09:02:19 GMT+0000 (Coordinated Universal Time) with Vercel.
https://archive.ph/XHuGW
> But in fact, the way they work is that every time their net worth increases, the government’s senior preferred claim — that $348.4 billion — increases by the same amount. So if they earn $30 billion this year, the government’s claim will increase to $378.4 billion, and the shareholders will be no closer to getting paid than they are now.
Why no chuck Klarna a banking charter and an IPO while were at it?