{"id":195409,"date":"2008-07-10T17:52:00","date_gmt":"2008-07-10T22:52:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/10\/gse-dead-pool\/"},"modified":"2008-07-10T17:52:00","modified_gmt":"2008-07-10T22:52:00","slug":"gse-dead-pool","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/10\/gse-dead-pool\/","title":{"rendered":"GSE Dead Pool"},"content":{"rendered":"<p>The Government Sponsored Entities (GSE), Fannie Mae and Freddy Mac, are the <span style=\"font-weight:bold;\">second and third largest borrowers in the world<\/span>, with the federal government being #1, and it appears that they are in trouble.<a href=\"http:\/\/money.cnn.com\/2008\/07\/10\/news\/companies\/fannie_freddie\/index.htm?postversion=2008071010\">Fannie, Freddie plunge on reports of feds planning bailout &#8211; Jul. 10, 2008<\/a><\/p>\n<p>well, former St. Louis Federal Reserve President William Poole just said that <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=a7NPAG.LEjHQ&amp;refer=home\">the GSE&#8217;s are insolvent under fair accounting rules<\/a>.<\/p>\n<p>If they go boom, it&#8217;s not hoard gold time, it&#8217;s hoard canned goods and ammunition time.<\/p>\n<p>This may sound alarmist, but <a href=\"http:\/\/dailybriefing.blogs.fortune.cnn.com\/2008\/07\/09\/credit-markets-losing-faith-in-fannie\/\">the credit markets are already demanding the highest spread from Treasury debt ever, 74 basis points<\/a>, and White House officials are <a href=\"http:\/\/online.wsj.com\/article\/SB121564782376340951.html?mod=hps_us_whats_news\">drawing up contingency plans in the event that one or both of them fail<\/a>, so Pool is <span style=\"font-weight:bold;\">not<\/span> alone in his concerns.<\/p>\n<p>We haven&#8217;t even made to the 7th inning stretch in the credit crunch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government Sponsored Entities (GSE), Fannie Mae and Freddy Mac, are the second and third largest borrowers in the world, with the federal government being #1, and it appears that they are in trouble.Fannie, Freddie plunge on reports of feds planning bailout &#8211; Jul. 10, 2008 well, former St. Louis Federal Reserve President William Poole &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,1265,985],"tags":[],"class_list":["post-195409","post","type-post","status-publish","format-standard","hentry","category-finance","category-housing-crash","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195409"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=195409"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195409\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}