Peter Schiff sees socialization of United States bubble economy will sink the Federal Reserve Note. US mortgage giants Fannie Mae and Freddie Mac are facing growing pressure as fears intensify about a potential calamity at the firms, which underpin trillions of dollars in home loans. Together they own or guarantee some US$5.2 trillion in loans, or about 40 per cent of the total value of home loans in the United States. Peter Schiff at Euro Pacific Capital said the two giants were likely to need government bailouts in view of the “dubious quality of their mortgage portfolios”. “Together both firms have less than US$90 billion in capital reserves to ensure losses on more than US$5 trillion in mortgage debt … Clearly, Fannie and Freddie would have no ability to survive without a government bailout. This means that taxpayers will be on the hook for hundreds of billions of losses, perhaps even more than one trillion.”
Posts Tagged ‘ Bailout ’
March 19 (Bloomberg) — James Rogers, chairman of Rogers Holdings, talks with Bloomberg’s Andrea Catherwood about his investment strategy for the euro and the pound. Rogers, speaking in London, also discusses the prospect of an international bailout for debt-stricken Greece. Copyright Bloomberg 2010 Jim James Rogers euro investment strategy short bailout Greece Germany dollar eurozone credit default swaps cds derivatives sterling UK US trade imbalance wars equities stocks correction
October 8, 2008 – Next day after this hearing AIG got another 38 Billion from Paulsen. Total Tab = $123 Billion. I guess it’s time for another manicure! AIG gets another $38bn Total Tab=$123BN Maybe Execs need another spa retreat! tinyurl.com October 7, 2008 Insurance Hearings Lynn Turner (ex SEC chief accountant) Eric Dinallo – NY Regulator Clip #2 Cummings (D-MD)
Different ways of accounting for an asset. Mark-to-model vs. mark-to-market.
Greece faces years of painful cuts to salaries – in return for a multi-billion-dollar bailout from the International Monetary Fund and the EU. The country’s finance minister called it a ‘choice between collapse or salvation’.
Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State, an Organized Religion Group, a Sect or a Kin and an Anti Tribal Gentile. Every phrase is an earnest verdict. Thats my bio. If you dont agree with me thats an honor. It is immoral to appease to please. My word hurts big time because it is quality of a moment of truth US Conspiracism is a Grassroot Religion alas belief masterminded by the Establishment to Worthy the Worthless. This in-thing is sold as Partisanship to the Unemployables for free. Its the Disneyfication of the Mass to glorify a Legacy of Ghosts as Rothchild, Bilderberg, English royalty etc. Neither Mainstream Media & nor Hollywood or the Publisher’s Clan would be outsourced to such task simply because they are assigned to edutain the Untalentable Aristocrat Urban Parasites. AIG American International Group, Inc. (NYSE) Google Finance Yahoo Finance MSN Money AOL Finance CNN Money Reuters 3.51 0.36 ( 9.30%) 7 Oct 4:00pm ET Open: 4.22 High: 4.22 Low: 3.51 Volume: 90285327 Avg Vol: 218654000 Mkt Cap: 9.44B Disclaimer After Hours: 3.54 +0.03 (0.85%) 7 Oct 7:59pm ET Crisis strengthens Manulife’s hand in AIG bid Manulife and other insurers are expected to bid for AIG divisions as early as this week, they said. The American insurance giant is under pressure to sell Former AIG Executives Get Harsh Criticism …
Garage419’s first round table debate. Wes Siler, Mike Spinelli and Leo Parente join Matt Farah to discuss the state of General Motors and Chrysler after their recent viability plans were submitted to congress. – Garage419
How the bank can liquidate assets to pay off debt that comes due.