Fannie Mae Enron?

The Wall Street Journal ^ | Wednesday, February 20, 2002

[Dukie]

Uh Oh !

[Dukie]

More derivitives exposure - this time federally chartered companies.

[Dukie]

sink, what do ya think ?

[Dukie]

More derivitive worries

[Dukie]

More derivitives problems bump for you good folks.

[TroutStalker]

Bump.

[TroutStalker]

Bump.

[Copernicus]

Folks,

Generally speaking this is good news.

When the waves close over the Titanic known as the Imperial Feral Government the human race will have learned a valuable lesson about hubris and government.

We will have smaller government no matter what the liberals want.

Best regards,

[Dukie]

When the waves close over the Titanic known as the Imperial Feral Government Hmm ... you have hit on a very good metaphor, but may I suggest a clarification - government in collusion with global financial institutions. The self proclaimed " Masters of the Universe" and the regulators up on the promenade deck ready to man the lifeboats while the chumps down in steerage hold the bag.

Bankers and hedge fund mangers first !

[bwteim]

Thanks for ping, Dukie. I caught that article this morning in WSJ, too.
Paragraph six bears rereading regarding nondisclosure of counterparties... and their ability to pay.
As Journal noted "We aren't trying to scare readers here, and perhaps all of these concerns will come to nothing" but it is not a pretty picture.

[Wyatt's Torch]

Thanks for the ping. If the Federal government had to produce financial statements as required by the SEC for publicly traded companies, it would be rated a "sell" by every analyst. Just with Social Security alone, it is the ultimate Ponzi scheme. Enron is nothing compared to their fiscal malfeasance. I am only 33 but have planned for my retirement by completely excluding SS. If I get it, great, I'll be able to eat at McDonalds once more a month.

[Tauzero]

bump

[Liz]

Thanks for the bump.......guess Fan and Fred will become part of the corrupt "Enronics" lexicon soon....

[Dukie]

You are welcome, bwteim. That phrase:"We aren't trying to scare readers here, and perhaps all of these concerns will come to nothing" evokes the sounds of whistling while walking past the graveyard.

Questions remeniscent of the history lessons surrounding Credit Anstalt are starting to stir.

[Dukie]

You're welcome, Wyatt. I've few years on you at 45 but I've adopted the same outlook. The danger is that the falling tide precipitated by such malfesance will swamp all boats.

[Wyatt's Torch]

If property prices collapse as a result of the Fed induced deflation, we'll just be known as Japan II. I don't even want to imagine the devestation.

[gunnedah]

The government and Congress was warned of this more than five years ago. I believe it was Citizens Against Government Waste that warned them and they did not heed.Our good old efficient government!The Clinton Administration,Ron Brown, Ciscernos and the gang!

[getsoutalive]

Understand that this is not "ONLY" $2.6T, but it represents the mortgages of the majority of homes in this country. Fan and Fred going under would cause major economic upheaval. Not that that is avoidable at this time anyway, but there is more at stake here than many realize.

We live in interesting times, to put it midly.

[Wyatt's Torch]

Along these lines - Bankruptcies Soar to Record in 2001