Friday, February 11, 2011
GSE Fix Released
In the past, the government’s financial and tax policies encouraged housing purchases and real estate investment over other sectors of our economy, and ultimately left taxpayers responsible for much of the risk incurred by a poorly supervised housing finance market.If tax policy is changed, that has nothing to do with the GSEs. And no matter how much people want to believe it, it was never Fannie and Freddie that led the way on the mortgage risk. They lost huge market share until they began to offer some riskier loans that were competitive with those offered by private players.
When reality is misstated to such an extreme in the introduction, one must read with an epic dose of cynicism. We chose to kill off the GSE's to relieve the pressure in the private market. I think everyone has it backward.
home prices will continue to fall and they need to
fall. Asset prices cannot outstrip real wages for long.
FFB loans with several made at xmas by Tim. Note the 360+ million to Ford
plus other auto loans, Fisker Auto and Teslar
DOE-ADV TECHNOLOGY VEHICLES MFG
Fisker Automotive, Inc. 12/22 $19,702,000.00 4/24/17 1.801% Qtr.
Ford Motor Company 12/22 $301,200,000.00 6/15/22 2.718% Qtr.
Ford Motor Company 12/22 $58,600,000.00 6/15/22 2.718% Qtr.
Tesla Motors, Inc. 12/22 $2,959,533.00 9/16/19 2.290% Qtr.
Tesla Motors, Inc. 12/22 $5,808,339.00 9/15/22 2.766% Qtr.
DOE-SECTION 1705 (RECOVERY)
Abound Solar Mfg. 12/09 $21,331,796.00 3/09/22 3.263% Qtr.
Solyndra 12/13 $14,850,671.30 8/15/16 1.515% Qtr.
Beacon 12/15 $76,220.10 6/17/30 3.595% Qtr.
Solyndra 12/21 $3,004,659.00 8/15/16 1.502% Qtr.
Beacon 12/23 $5,009,822.45 6/17/30 3.496% Qtr.
Kahuku Wind Power 12/28 $3,163,740.32 6/28/28 3.406% Qtr.
Kahuku Wind Power 12/28 $626,129.76 6/28/28 3.406% Qtr.
Question to all:
If no mortgages could be written for 1 months time, would the very fabric if reality bend and destroy us all??
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