Fannie Mae (Seite 2036)

[pautrus]

Antwort auf Beitrag Nr.: 34.809.779 von 24u@ndb am 22.08.08 12:52:19

Also bei meiner Kursanzeige war es heute den ganzen Tag über 3 Euro!
In welchem Land mit welcher Währung handelst du??

[24u@ndb]

Antwort auf Beitrag Nr.: 34.809.687 von GeorgeSorrows am 22.08.08 12:45:19

hab 300 stück zu 2,80 bekommen. ist gleich danach in münchen auf 2,40 gefallen.

ist halt ein reiner zock. dessen muß sich jeder bewußt sein.

gruß

der anfänger

[GeorgeSorrows]

bin gestern zu 2,84 mal mit 500 Stück rein...

[frischling1000]

Derweil sondiert Freddi offenbar schon mal in eigener Sache. Wie das WSJ berichtet, ist für den Hypothekenfinanzierer auch der Verkauf von Anteilen an Beteiligungsgesellschaften oder andere Investoren eine konkretere Option. So habe der Freddie-Mac-Sprecher David Palombi gegenüber dem Blatt gesagt, dass „hochrangige Manager in dieser Woche mit einer großen Bandbreite potenzieller Investoren gesprochen haben". Allerdings würden die Bemühungen laut dem Bericht dadurch erschwert, dass mögliche Geldgeber befürchten, ihre Anteile an dem Unternehmen sowie an dem Konkurrenten Fannie Mae könnten im Falle eines staatlichen Eingreifens wertlos werden.

[frischling1000]

Antwort auf Beitrag Nr.: 34.806.265 von lordmare am 22.08.08 09:17:03

danke - so muß jetzt meinen Beruf verfolgen.

- bis später

[frischling1000]

Antwort auf Beitrag Nr.: 34.801.003 von lordmare am 21.08.08 21:37:38

nichtmal mein Broker hat auf die Schnelle eine Uhrzeit gefunden

Grundsätzlich wird er sich verhalten positiv äußern um seiner Verantwortung gerecht zu werden. Bei Fannie wird er Hilfe zusichern aber sich über die Form der Hilfe nicht näher auslassen.

Sollte heute wieder grün werden - schau´ mer mal;

[lordmare]

The world's top central bankers gather at their annual U.S. mountainside symposium today with a sense there's not much more they can do to repair credit markets and rescue the global economy.

Reports in the last week showing a surge in inflation reinforce expectations that Federal Reserve Chairman Ben S. Bernanke will have to keep U.S. interest rates on hold. Similar conditions in Europe are paralyzing his counterparts at the Bank of England and the European Central Bank.

``All the central banks can provide now is time for the banking system to heal,'' Myron Scholes, chairman of Rye Brook, New York-based Platinum Grove Asset Management LP and a Nobel laureate in economics, said in an interview. ``What more they have to offer is now very limited.''

Bernanke may discuss his strategy when he opens the conference in Jackson Hole, Wyoming, with a speech on financial stability at 10 a.m. New York time. His audience comprises a who's who of central banking, including ECB President Jean- Claude Trichet, Bank of Japan Deputy Governor Kiyohiko Nishimura and central bank officials from about 40 other countries.

The event, ending tomorrow, has been hosted by the Kansas City Fed in Grand Teton National Park since 1982.

In the U.S., borrowing premiums for banks and corporations are at their highest in months, prolonging the drag on growth. That's after Fed policy makers cut the main interest rate this year at the fastest pace in two decades, introduced three emergency-lending programs and helped Bear Stearns Cos. avert bankruptcy.

`Hope and Pray'

``There isn't a lot they can do'' now, said former Fed Governor Lyle Gramley, senior economic adviser at Stanford Group Co. in Washington. ``The Fed really has to hope and pray that credit markets begin to heal by themselves.''

Europe's biggest central banks have refused to jeopardize their price stability mandates by lowering rates and have warned about the danger of bailing out investors.

Trichet's ECB raised its benchmark rate in July by a quarter point to 4.25 percent and the Bank of England is refusing to ease credit even with the U.K. near a recession.

``Many central banks around the world have been in a position where they have been focused on inflation, and they didn't have the same intensity of the slowdown that we saw in the U.S.,'' said former Fed governor Laurence Meyer, vice chairman at Macroeconomic Advisers LLC in Washington, in an interview at Jackson Hole.

`Considerable Stress'

The Fed, while leaving the benchmark interest rate unchanged for its last two meetings, says financial markets ``remain under considerable stress.'' One gauge watched by the Fed, the premium for banks to borrow for three months over a measure of the future overnight lending rate, averaged 0.77 percentage point last week, the highest since April.

The Fed's rate cuts also have failed to pass through to the housing market. The average rate on a 30-year fixed mortgage was 6.47 percent last week, about where it was a year ago.

``Higher mortgage rates and sharply tightening credit standards in mortgages have gummed up a key channel through which monetary easing is supposed to stimulate aggregate demand,'' said Mickey Levy, New York-based chief economist at Bank of America Corp., who is attending the symposium.

Pushed the Limits

Apart from lowering rates, Bernanke has pushed the limits of the Fed's powers to ease the crisis in credit markets. In December, he started auctioning 28-day loans to commercial banks. He followed that in March with a $200 billion program to auction Treasuries to investment banks in exchange for mortgage-backed securities and other debt. Bernanke also offered cash loans to other bond dealers that trade with the Fed.

With all these programs in place, Fed officials may be reluctant to do more without assurance that it will ease the credit crisis and not do more harm.

``They have done a lot, and at some point they simply have to give the markets the time needed to heal,'' said former Fed researcher Brian Sack, senior economist at Macroeconomic Advisers.

At the same time, investors are looking to the Treasury Department, not the Fed, to bail out mortgage-finance companies Fannie Mae and Freddie Mac using newly granted authority.

European policy makers, meantime, have refused to be as activist as their U.S. counterparts, arguing that they can't be seen to bail out investors who made risky bets. Trichet says the ECB's ``collateral framework has served us pretty well.''

While the Bank of England in April followed the Fed in agreeing to swap damaged mortgage-backed securities for government bonds, Governor Mervyn King has resisted calls from lenders for it to buy securities outright.

Some, such as former Bank of England policy maker Willem Buiter, who will address the meeting tomorrow, argue that the Fed's actions to date store up trouble for the future.

``There will have to be a lot of soul searching about whether central banks, in their rush to forestall a financial disaster, have created moral hazard and perverse incentives on an unprecedented scale,'' Buiter said.

Bloomberg

[lordmare]

Investors' growing belief in the likelihood of a federal bailout of home-funding giants Fannie Mae and Freddie Mac triggered a rally in the debt prices of the two companies on Thursday while a steep fall in their shares prices abated.

Debt investors bet the securities will get a U.S. guarantee even if shareholders are wiped out by a federal rescue of the two government-sponsored enterprises (GSEs), which own or back almost half of all outstanding U.S. mortgages.

"The debt is selling right now because the bond market thinks the government is going to step in and take over," said Paul Miller, managing director at Friedman, Billings, Ramsey in Arlington, Virginia. "If the Treasury continues to hold their breath, debt spreads will widen back up" versus Treasuries.

"I do not think it (government intervention) is going to happen this weekend. I do not know if it is going happen within the next couple of weeks," said Miller. "The more the stocks trade down, the higher the probability they will have to act. I do not think $3 is that trigger point, but it is certainly getting there."

Shares of Fannie Mae and Freddie Mac erased earlier losses of about 20 percent as growing speculation of an imminent government bailout forced investors to buy back shares to exit bets made in hopes of a further decline.

Freddie shares fell 2.8 percent to $3.16 while Fannie gained 10.2 percent to $4.85. So far this week, Fannie shares have fallen 39 percent and Freddie is down 46 percent.

The two GSEs have reported losses for the past four quarters, and rising mortgage delinquencies cut into the value of their assets and capital. However, they meet regulatory capital requirements and are successfully rolling over their debt on the regular schedule, limiting the need for any nationalization by the government.

As the nation suffers the worst housing market downturn since the Great Depression, their ability to fund mortgages through the issuance of debt is considered crucial for the housing market and economy.

As the share prices evaporate, banking sector analyst Dick Bove of Ladenburg Thalmann in Florida said the government should recruit financial industry leaders to oversee dismantling of the two companies.

"The only rational action" to be taken relative to Fannie and Freddie "is to get rid of them", Bove wrote in a research note.

The price of the debt issued by Fannie and Freddie has surged relative to U.S. Treasuries in the past two days, however, on the view that Congressional backing for a bailout mandated in July this year will secure repayment.

Investors are closely watching the performance of the companies' debt, given that the two GSEs will need to roll over $225 billion of debt by the end of September, according to Barclays Capital.

"If they are able to roll over their debt in late September, and the dollar amount is substantial, then it signals that the credit markets are comfortable enough with the current situation and with the government backstop and that buys them a fair amount of time," said Brian Gardner, chief political analyst for Keefe, Bruyette & Woods.

"If that does not turn out well, then the Treasury, if they have not already done so, will at that point be forced to step in and act more quickly than they would have," he added.

Both agencies have demonstrated in debt sales this month that they still have ready access to the capital markets, albeit at a higher cost.

The ongoing ability of the GSEs to finance the purchases of mortgage from private lenders, freeing up money for more lending, is critical to the housing market. Many of Fannie's and Freddie's private competitors shut their doors after record foreclosures on riskier loans in the past year.

A new Freddie Mac five-year note was sold on Tuesday at record 1.13 percentage point yield premium over Treasuries. The pricing enticed enough demand to cut that premium to 0.98 percentage points on Wednesday and about 0.90 percentage point at on Thursday.

However a bounce in the two companies shares prices could be expected if the government acts to support the two largest U.S. home funding companies without eliminating value for existing shareholders.

But the market is demanding clarity and without it the shares are vulnerable.

"Nobody is going to put equity capital or preferred stock into Fannie and Freddie, with 'what's the government going to do?' hanging over your head?", said Robert Napoli, analyst Piper Jaffray in Chicago.

One option is for the regulator of the GSEs is to waive the requirement that Fannie and Freddie hold excess capital, he said.

"If the government were to provide support that didn't wipe out shareholders ... you will have another year of bad quarters, and it then starts getting better so there's a lot of upside potential," said Napoli. "There's that possibility out there."

The Treasury could also take an equity stake in the companies, buy their mortgage-backed securities or senior agency debt, and ultimately restructure Fannie and Freddie, analysts said.

(additional reporting by Al Yoon, Walter Brandimarte, Julie Haviv)


Diese Idee finde ich nicht schlecht

Quelle:Reuters

[Briefmarke]

Nachbörslich geht es erst mal etwas runter 4,70 $ im Moment. Morgen kann es ganz hektisch in beiden Richtungen gehen!

[frischling1000]

wird ja noch sehr spannend hier;

The former chairman of the Federal Deposit Insurance Corp. who played a key role in healing the U.S. banking system after the savings and loan crisis said Thursday he advocates a breakup of struggling mortgage buyers Fannie Mae (FNM) and Freddie Mac (FRE).


"We need a plan for breaking up Fannie and Freddie and selling them to private investors, so that the government isn't the biggest backer of the housing market," said Bill Seidman in an interview with MarketWatch in Boston's financial district on Thursday.

The former FDIC head who helped revive banking confidence after the S&L debacle in the late 1980s said that "the only real productive alternative" is to nationalize Fannie and Freddie as a first step.

Shares of the government-sponsored mortgage entities have been in a downward spiral this week on mounting fears they will require a bailout that could essentially wipe out shareholders. However, Fannie shares bounced back somewhat Thursday, gaining nearly 9% recently.

Seidman said a government bailout of Fannie and Freddie would dwarf the tab from the S&L crisis, estimating it would involve assets between $5 trillion and $6 trillion.

The government should put in new management and run the companies for the sole benefit of borrowers, while balancing obligations to the housing market with financial costs, he said.

"The government better get a heck of a good guy to run Fannie and Freddie," Seidman said. "That's the biggest financial challenge of the century."

One name he floated was Treasury Secretary Henry Paulson, saying it would be an even bigger job than running the Treasury.

Paulson earlier this summer promoted a plan signed into law that extended a temporary and unlimited line of credit for the two mortgage-finance giants.

Yet Seidman said part of the problem is that the government is "half in, half out" of Fannie and Freddie, which is contributing to market uncertainty.

"For all practical purposes, Fannie and Freddie are nationalized, but the government doesn't have enough control given its interest in the housing market, " he said.

The Plan

The banking expert said the government should buy 95% of the GSEs, leaving shareholders with "a token amount," a move he acknowledged would lead to "huge losses" for investors. After the companies and the housing market get back on their feet, Fannie and Freddie should be broken up and sold to private investors.

"This process needs to be done in an overt, rather than covert, fashion so that market participants know what the rules are," Seidman said.

Meanwhile, he said any plan would require making Fannie and Freddie creditors whole. Because the debt is held in such large amounts by governments and banks around the world, "it would endanger the global financial system."

With the relatively recent advent of securitization markets in which mortgage loans are packaged up and sold to large investors, the private sector is more equipped to deal with a market without the GSEs, Seidman argued.

The costs of borrowing to purchase a home would likely rise, but the current system is broken, he said.

"If the government wants to provide a subsidy, why not just give it directly to borrowers and get dollar-for-dollar on its money?" Seidman said. "Of course, the problem is that this would be a government program, but it's more efficient than the system we have now."

Privatizing the GSEs "can't be done overnight" and could take years due to the problems already shaking the mortgage and housing markets, and there would be losses borne by the government.

'Catastrophic Losses'

Conversely, there is a real danger that Fannie and Freddie could go under if they are unable to refinance their debt. As reported by The Wall Street Journal earlier this week, Fannie and Freddie have $225 billion of debt they need to roll over by the end of September. "This is when the market could effectively shut them down," Seidman warned.

Yet if the GSEs go down, it would be "catastrophic" because the mortgage securities are in most banking systems around the world.

"It could cause total panic in the global financial system, which is based on credit," he said.

"Some people say let them fail and let the market sort it out, and the market will sort it out," Seidman added. "But in the meantime, that could mean the end of the market and the financial institutions and banks. They tried that during the Great Depression. The market will work, but it's a question of cost, and the cost would be the collapse of the banking system."

Since the U.S. financial system is based on credit, the government almost has no choice but to help any big financial institution in danger of failing, he said.

He predicted the private sector could eventually take the place of the GSEs and help provide liquidity to the mortgage market. "Fannie and Freddie are private institutions that had special privileges in the marketplace, which forced competitors out of business."

However, until the privatization shift is able to happen, the respected market observer said the government has to step in to prop up Fannie and Freddie.

"My experience in government says whenever possible, the government shouldn't run it," Seidman said. "But this is one of those times when the government has to run it."

-By John Spence; 415-439-6400; [e-mail]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=msysc34sJNryHXUKmt4ODQ%3D%3D. You can use this link on the day this article is published and the following day.


eine Zerschlagung nach Verstaatlichung und Privatisierung?

ich bin gespannt -

alles möglich - meine Prognose: KEINE Verstaatlichung; vorgeschobenes Investorengremium;

schau´ mer mal.