Housing Giants - July 24, 2008 - (Page 7) viewpoint By Bill Lurz, Senior Editor Stepping in iS the right Step Bill’s blog expounds on the Freddie Mac, Fannie Mae decision. tHe BusH administration and congress proved that when there’s enough at stake, bipartisan cooperation is possible, even in Washington, D.C. That’s what happened when the administration sent to Congress a sweeping package of rescue measures that would allow the government to inject billions of federal dollars into beleaguered Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) that touch nearly half this country’s mortgages by either owning or guaranteeing them. The entire home building industry is breathing a collective sigh of relief that by the end of this week, we can all quit worrying that the implied federal government backing of these vital institutions might not be real. Congress is being asked to extend the government’s line of credit to the GSEs to as much as $300 billion. This is really a logical step. Each company now has a $2.25 billion credit line, which made sense 40 years ago, when Fannie had only $15 billion in outstanding debt. But it doesn’t make much sense today, when Fannie has debt of $800 billion and Freddie has $740 billion. Today, the two companies also hold or guarantee loans valued at more than $5 trillion. Fannie and Freddie simply cannot be allowed to fail. Really, Wall Street and financial markets around the world have always known Video editorial Bill argues high-end infill is the way to go. www.Housinggiants.com 7.24.08.Housing giants http://www.housingzone.com/blog/1360000536.html http://www.housinggiants.com
Table of Contents Feed for the Digital Edition of Housing Giants - July 24, 2008 Housing Giants - July 24, 2008 Contents Viewpoint News & Moves Process Critical Management Series: Part II Housing Giants - July 24, 2008 Housing Giants - July 24, 2008 - Housing Giants - July 24, 2008 (Page 1) Housing Giants - July 24, 2008 - Housing Giants - July 24, 2008 (Page 2) Housing Giants - July 24, 2008 - Housing Giants - July 24, 2008 (Page 3) Housing Giants - July 24, 2008 - Housing Giants - July 24, 2008 (Page 4) Housing Giants - July 24, 2008 - Contents (Page 5) Housing Giants - July 24, 2008 - Contents (Page 6) Housing Giants - July 24, 2008 - Viewpoint (Page 7) Housing Giants - July 24, 2008 - Viewpoint (Page 8) Housing Giants - July 24, 2008 - Viewpoint (Page 9) Housing Giants - July 24, 2008 - News & Moves (Page 10) Housing Giants - July 24, 2008 - News & Moves (Page 11) Housing Giants - July 24, 2008 - News & Moves (Page 12) Housing Giants - July 24, 2008 - News & Moves (Page 13) Housing Giants - July 24, 2008 - News & Moves (Page 14) Housing Giants - July 24, 2008 - News & Moves (Page 15) Housing Giants - July 24, 2008 - Process (Page 16) Housing Giants - July 24, 2008 - Process (Page 17) Housing Giants - July 24, 2008 - Process (Page 18) Housing Giants - July 24, 2008 - Process (Page 19) Housing Giants - July 24, 2008 - Process (Page 20) Housing Giants - July 24, 2008 - Process (Page 21) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 22) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 23) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 24) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 25) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 26) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 27) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 28) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 29) Housing Giants - July 24, 2008 - Critical Management Series: Part II (Page 30)
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