Category: Fannie Mae

Call it Franny: Part 2, “Some form of market utility”

9 April, 2013 (12:18) | Capital markets, Fannie Mae, Freddie Mac, GSEs, Legislation and policy, Secondary markets, Securitization, Subprime, US News |

[Continued from yesterday's Part 1.]   By:David A. Smith   Yesterday we saw, via a month-old article in Reuters (March 4, 2013), that FHFA director Ed DeMarco had decided to take a seemingly innocuous step, one that he cloaked in mild-mannered language – and yet, when the history is written, this will be seen as […]

Call it Franny: Part 1, “Create something of value”

8 April, 2013 (12:39) | Capital markets, Fannie Mae, Freddie Mac, GSEs, Legislation and policy, Secondary markets, Securitization, Subprime, US News |

By:David A. Smith   Unify the chassis, unify the companies: If that wasn’t Alfred Sloan’s motto at General Motors, it should have been, for it guided both Sloan’s GM and Lee Iacocca’s Chrysler – and it appears to be guiding the reluctant revolutionary, Ed DeMarco, who despite being alternatively ignored or excoriated by some Washington […]

The principals of Dr. No

14 August, 2012 (09:00) | Fannie Mae, Foreclosure, Freddie Mac, GSEs, Housing, Subprime, US News, Workouts |

By:David A. Smith   We say that we admire people who stick to their guns, who ‘speak truth to power’ in that self-righteous phrase, but when someone does, that person is liable to be criticized, although GSE conservator Ed Demarco must be used to it by now, for reasons similar to those listed in the […]

Shooting at the pilots before they take off

30 March, 2012 (09:38) | Fannie Mae, Foreclosure, Freddie Mac, Homeownership, Innovations, Private property, Subprime, Tenure, US News |

By:David A. Smith   Yes, that’s definitely a hedge-fund-manager’s private plane   I seldom find Wall Street Journal guilty of being a propaganda tool (except on their editorial pages, where it properly belongs), yet a recent WSJ online story shows unusual credulity in advancing the case that small privateers would like you to believe: It’s […]

Retribution is swift

17 January, 2012 (12:29) | Capital markets, Fannie Mae, Freddie Mac, GSEs, Regulation, US News |

By:David A. Smith   Barely a week ago, Congress and the Administration teamed up to do a stupendously short-sighted thing, and it gives me great schadenfreude to report how quickly may come the anticipated punishment for their collective sloppy thinking.  As reported with barely disguised relish in BusinessWeek, retribution may not be certain but its […]