zero hedge Mon 2009-11-30 11:15 EST

Fannie Mae Reports Massive Q3 Loss, Asks For Another $15 Billion From Government As It Is Set To Become Largest US Landlord

The latest particular does of lunacy and economic calamity coming out of the intellectual midgets at Fannie and the FHA should be sufficient to push the market well into 1,100 territory tomorrow. FNM's loss for Q3 is $18.9 billion, up from $14.8 billion in Q2, a time when the market was up a good 15%: ever wonder who keeps on subsidizing those gain? That's right - you. Credit-related expenses increased to $22 billion in Q3 from $18.8 billion in Q2. Oh, and Fannie now wants another $15 billion rescue from the Treasury (which is having some troubles with getting that pesky debt ceiling raised to one googol) so it can continue with its plan of keeping shadow inventory away from the market, rent foreclosed houses to their owners at staggeringly low rates, and continue the pretence that bank's balance sheets are well capitalized...

15; asks; becoming largest; Fannie Mae Reports Massive Q3 Loss; government; landlord; set; Zero Hedge.

Ambrose EvansPritchard Finance and business comments Thu 2009-11-19 10:33 EST

It is Japan we should be worrying about not America

Ambrose Evans-Pritchard

Japan is drifting helplessly towards a dramatic fiscal crisis. For 20 years the world's secondlargest economy has been able to borrow cheaply from a captive bond market feeding its addiction to Keynesian deficit spending - and allowing it to push public debt beyond the point of no return.

Ambrose EvansPritchard Finance; America; Business Comment; Japan; Worries.

The Big Picture Mon 2009-10-12 10:03 EDT

Fixing Derivatives Regulation

Any plan that seeks to reverse the unregulated wild west that derivatives have existed in since 2000 must have a simple beginning: Repeal the Commodity Futures Modernization Act. This ruinous and corrupt legislation, pushed through by the Bonnie & Clyde of deivatives, Enron Board member Wendy Gramm, and her astonishingly clueless ideologue husband, former Texas Senator (and current UBS member) Phil Gramm, lay at the heart of the current derivatives debacle. After Greenspan, Gramm is the single most culpable individual in terms of damaging the global economy.

Big Picture; Fixing Derivatives Regulation.

Mish's Global Economic Trend Analysis Sun 2009-09-20 11:23 EDT

Yellen Calls For "U" Shaped Recession and Another Jobless Recovery

Michael Shedlock

...excerpts from Janet Yellen's Outlook for Recovery in the U.S. Economy: ...the complex topic of inflation. In my career, I have never witnessed a situation like the one that exists now, when views about inflation risks have coalesced into two diametrically opposed camps. On the one hand, one group worries about the long-term inflationary implications of a seemingly endless procession of massive federal budget deficits. At the same time, others fear that economic slack and downward wage pressure are pushing inflation below rates that are considered consistent with price stability and even raising the specter of outright deflation... My personal belief is that the more significant threat to price stability over the next several years stems from the disinflationary forces unleashed by the enormous slack in the economy.

Jobless Recovery; Mish's Global Economic Trend Analysis; Shaped Recession; U; Yellen called.

naked capitalism Thu 2009-08-27 10:50 EDT

Quelle Surprise! Fed Uses Scare Tactics to Try to Forestall Loan Disclosures

Yves Smith

In a show of how much our government thinks that serving the financial oligarchy, rather than the citizenry, is its prime duty, the Fed is fighting to stop the court-ordered disclosure of who borrowed money under the Fed's various lending facilities. The reason I lump the Fed in with "the government" is that the central bank has been serving as an off-balance sheet entity of the Treasury for quite some time. And not only are the Fed and Treasury acting in near lockstep, but there has been no meaningful change in the government stance towards the banksters. Yes, Team Obama makes more of a show of trying to rein them in, but push comes to shove, it's merely Paulson version 2.0: same content, better packaging. Paulson's success in muscling...

Fed Uses Scare Tactics; Forestall Loan Disclosures; naked capitalism; Quelle Surprise; trying.

Wed 2009-05-20 00:00 EDT

naked capitalism: Obama Pushing "Quick, Surgical" Big Auto Bankruptcy Fantasy

Big Auto Bankruptcy Fantasy; naked capitalism; Obama pushes; quickly; Surgical.

Wed 2009-04-01 00:00 EDT

Truthdig - A Choice Between Peace and Peril

by Chris Hedges; ``Netanyahus assumption of power in Israel sets the stage for a huge campaign by the Israeli government, and its well-oiled lobby groups in Washington, to push us into a war with Iran''

choices; peace; peril; Truthdig.

Fri 2008-11-07 00:00 EST

naked capitalism: SF Fed's Yellen Troubled by Economic Data, Pushes Mortgage Aid

economic data; naked capitalism; Pushes Mortgage Aid; SF Fed's Yellen Troubled.

Tue 2008-10-07 00:00 EDT

Mish's Global Economic Trend Analysis: Pushing on a String In Academic Wonderland

``The credit markets are choking on credit, yet Bernanke is attempting to force more credit down everyone's throats''

Academic Wonderland; Mish's Global Economic Trend Analysis; push; string.

Tue 2008-09-23 00:00 EDT

Winter (Economic & Market) Watch >> Massive Bailout? Hardly, a Massive Tar Pit Instead

Winter (Economic & Market) Watch >> Massive Bailout? Hardly, a Massive Tar Pit Instead; paulson bailout plan; ``work closely with the FOH (friends of Hank) on the Tar Pit scarfs, and also pressure and push the carrion off the cliff into the Tar Pit.''

economic; hard; Market; massive bailout; Massive Tar Pit Instead; watch; winter.

Tue 2008-08-26 00:00 EDT

The Credit Default Swap Market - Will It Unravel?

by Satyajit Das (Prudent Bear); 2008-03-04; "CDS contracts may create incentives for creditors to push troubled companies into bankruptcy"

credit default swaps market; unravelling.

Mon 2008-08-04 00:00 EDT

London Banker: What's up with the covered bond push?

"Whenever Henry Paulson at Treasury, Ben Bernanke at the Fed and Shiela Bair at FDIC agree on anything, American taxpayers should check for their wallets...When the troubled bank nonetheless fails, our golden circle creditors get the good collateral in an expedited release from FDIC under its new policy statement. The FDIC is left with all the toxic waste assets and liability for depositor insurance claims, with no prospect of recovery"

covered bond push; London Banker; s.

Thu 2008-06-19 00:00 EDT

naked capitalism: Paulson Pushing Harder for Fed As Financial Stability Regulator

"one can argue that our financial distress is the result of the central bank's mission creep"; "a financial stability role conflicts with tough oversight"

Fed; Financial Stability Regulator; naked capitalism; Paulson Pushing Harder.

Sun 2007-12-23 00:00 EST

The Wall Street Examiner >> The Pushers

BOA "frantic shyster" pushing cash

Pusher; Wall Street Examiner.

Sun 2007-12-23 00:00 EST

Money Matters: I Risked My Life To Save A Woman On Parole, Time To Talk About Our Criminal Class: The Top Dogs In USA

by Elaine Meinel Supkis; secret deal: China would stop the flood of Japanese money flowing into China except for GOVERNMENT LOANS to clean the environment, China would stop forcing the yen upwards, Paulson will stop pushing China to push up the value of the yuan and Japan is going to weaken the yen to 130 to the dollar

Criminal Class; Life; money matters; parole; Risk; save; talks; Time; Top dog; USA; Woman.

Fri 2007-12-14 00:00 EST

Atlantic Herald - Who is Really Pushing this Turnpike Sale?

by Assemblyman Sean Kean; Corzine's former associates at Goldman Sachs hawking government asset sales

Atlantic Herald; really push; Turnpike Sale.