Comments on: Treasury Continuing to Try to Talk Down Mortgage Rates

By: admin

admin — Thu, 30 Oct 2008 04:10:07 +0000

I agree Grant but I think its a little of both. FCB’s want nothing to do with Agencies once King Henry is out of office.

By: upthecreek

upthecreek — Thu, 30 Oct 2008 03:58:29 +0000

Thanks for the update MM

The crap just keeps getting deeper and deeper.

man we are screwed BIGTIME…

By: CaptiousNut

CaptiousNut — Thu, 30 Oct 2008 00:15:46 +0000

Anyone got a good resource or link on Quicken Loans? I see that they are done with HELOCs and are mostly dumping everything on FHA now. What exactly did they do before? Who ended up taking a bath on their adjustables?

By: Grant Case

Grant Case — Wed, 29 Oct 2008 22:50:54 +0000

Mr M.
This has less to do with the guarantee and more to do with all the other guarantees the government has been spraying around as of late. Up until 6 months ago, there were only two places where you could get a return with the implicit/explicit of the US government behind it – Treasuries and GSE bonds. Now, you can get that kind of guarantee from just about anywhere in the financial system. There is only a fixed amount of money looking for those sorts of deals and now they have the pick of the litter so why should I invest in GSE debt – with housing behind it…ick when I go to other places? Law of Unattended Consequences, we saved Fannie and Freddie from the market only to pull the trigger ourselves.

By: RolfeWinkler

RolfeWinkler — Wed, 29 Oct 2008 21:19:39 +0000

Great stuff MM. No such thing as infinite financing to fund an infinitely large bailout. You reading Brad Setser’s blog? He’s the man on international capital flows, especially sovereign purchases/sales of agencies.

By: JAllen

JAllen — Wed, 29 Oct 2008 17:35:35 +0000

Dan Perino? Didn’t he play for the Dolphins? Now with the White House.

By: JAllen

JAllen — Wed, 29 Oct 2008 16:43:20 +0000

Mr. M please keep up the great work!

From the White House: “What we’re trying to do is get banks to do what they are supposed to do, which is support the system that we have in America. And banks exist to lend money,” White House press secretary Dana Perino said.

JAllen: This is pathetic. Banks are businesses, and should be in business to make money, Dana. They should have made fewer loans (at higher rates) in the past, and few now.

JAllen

By: JAllen

JAllen — Wed, 29 Oct 2008 16:38:49 +0000

Some bogus, sickening, socialist?, (un-capitalistic) comments:

Bazooka Hank: “Fannie and Freddie play an important role in our economy and can’t be allowed to fail…” JAllen: Their role should be to make money, and when they can’t, they should be out. Their role? What is this, a tragic comedy?

Bazooka Hank: “We need the 700bn to ‘continue economic expansion’” JAllen: Economic what? Expansion? …Bwhaaaahahahaaa!!!

Headline: “White House tells banks to stop hoarding money.”
JAllen: Now we are France, China, USSR, you pick one.

JAllen