{"id":197140,"date":"2008-02-27T19:06:00","date_gmt":"2008-02-28T00:06:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/27\/loan-portfolio-limits-eased-on-gses-disaster-to-follow\/"},"modified":"2008-02-27T19:06:00","modified_gmt":"2008-02-28T00:06:00","slug":"loan-portfolio-limits-eased-on-gses-disaster-to-follow","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/27\/loan-portfolio-limits-eased-on-gses-disaster-to-follow\/","title":{"rendered":"Loan Portfolio Limits Eased on GSEs. Disaster to Follow"},"content":{"rendered":"<p>As a result of their accounting scandals Fannie Mae and Freddy Mac had their portfolios capped about 725 billion dollars, but <a href=\"http:\/\/money.cnn.com\/2008\/02\/27\/news\/companies\/fannie_freddie_caps.fortune\/index.htm?postversion=2008022711\">regulators have now removed the caps<\/a>.<\/p>\n<p>This is, to quote Nietzsche, &#8220;Like the bite of a dog into a stone, it is a stupidity&#8221;.<\/p>\n<p>The head of OFHEO, James Lockhart, will be eliminating the caps this week, and it looks like he will be reducing their capital requirements below the current 30% too.<\/p>\n<p>Mr. Lockhart is an ass.  At a time when the 2nd and 3rd largest borrowers in the world, after the US government, are facing a collapsing market, allowing them to go further out on a limb that is being sawed through is insane.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a result of their accounting scandals Fannie Mae and Freddy Mac had their portfolios capped about 725 billion dollars, but regulators have now removed the caps. This is, to quote Nietzsche, &#8220;Like the bite of a dog into a stone, it is a stupidity&#8221;. The head of OFHEO, James Lockhart, will be eliminating the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004,1265,982],"tags":[],"class_list":["post-197140","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance","category-housing-crash","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197140"}],"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=197140"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197140\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}