Re: Dialogo reale tra operatori di borsa svoltosi l'11 Luglio...
Inviato da Orwell84 il 8/9/2008 20:26:02
Articolo del Wall Street Journal sul *mancato fallimento di Freddie e Fannie. In particolare è interessante notare chi ci sia dietro l'azionariato di queste due agenzie governative:
Mr. Paulson noted that more than $5 trillion of debt and mortgage-backed securities issued by Fannie and Freddie is owned by central banks and other investors world-wide. “Failure of either of them would cause great turmoil in our financial markets here at home and around the globe,” Mr. Paulson said. By taking this action, the government has seized control of the vast bulk of the secondary market for home mortgages, where these loans are sold to investors, and will have a more direct responsibility than ever for solving the housing crisis [...]
The government rescue of Fannie and Freddie is likely to leave a trail of billions in losses for stock holders, including some major banks. But it protects the investments of bondholders, including mutual funds, foreign central banks and government investment funds that own large amount debt issued by the two companies. Investors such as Pacific Investment Management Co., the large Newport Beach, Calif., bond manager, that have loaded up recently on mortgage-backed bonds could benefit as Treasury purchases of such securities drive up their values.
It is unclear how much the government’s intervention will ultimately cost taxpayers.[...] [*]
Mr. Paulson noted that more than $5 trillion of debt and mortgage-backed securities issued by Fannie and Freddie is owned by central banks and other investors world-wide. “Failure of either of them would cause great turmoil in our financial markets here at home and around the globe,” Mr. Paulson said. By taking this action, the government has seized control of the vast bulk of the secondary market for home mortgages, where these loans are sold to investors, and will have a more direct responsibility than ever for solving the housing crisis [...]
The government rescue of Fannie and Freddie is likely to leave a trail of billions in losses for stock holders, including some major banks. But it protects the investments of bondholders, including mutual funds, foreign central banks and government investment funds that own large amount debt issued by the two companies. Investors such as Pacific Investment Management Co., the large Newport Beach, Calif., bond manager, that have loaded up recently on mortgage-backed bonds could benefit as Treasury purchases of such securities drive up their values.
It is unclear how much the government’s intervention will ultimately cost taxpayers.[...] [*]
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