Volume 9 - Number 5
March 3, 2010
Downloads Available: View the attached file (in pdf format)
Credit Expenses Replace Fair Value as Culprit
You know things are bad for Fannie Mae and Freddie Mac when the best that can be said about their economic performances is that their losses are coming from a different gaping wound – elevated credit expenses – as opposed to the cause of the hemorrhaging seen in 2008, fair value. With Fannie Mae reporting a fourth quarter loss of $15.2 billion and Freddie Mac announcing a loss of $6.5 billion for the...
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