Entries from Chemicals & The Economy tagged with 'Fannie Mae'
US heads towards New Normal for housing markets
Major changes are underway in Western housing markets. They are generational in nature, meaning that we are starting to see a New Normal develop in terms of future demand patterns for chemicals and polymers. The past 30 years have seen...
Fannie and Freddie lose another $19bn
Senator Dirksen's great one-liner in the US Senate, "A $bn here, a $bn there, and pretty soon you're talking real money" is beginning to seem sadly out of date, as the costs of the financial crisis escalate. Today saw the...
No news on Obama's plans for Fannie and Freddie
Its nearly 18 months since the US government nationalised the 2 home loan giants, Fannie Mae and Freddie Mac, at the start of the September 2008 financial crisis. Today, their current obligations amount to $3.7trn - larger that the total...
Lehman goes bust, Merrill rescued
The blog has never liked disaster movies, but it was quite a weekend for those who do. First, there was the hurricane hitting Houston and Texas. I used to live in Houston, and watching the pictures of the damage, could...
The $5 trillion bailout
The US government has finally decided to nationalise the two home loan giants, Fannie Mae and Freddie Mac. Readers will remember I forecast this would be necessary a year ago, in a letter to the Financial Times. I argued then...
US$5 trillion
Last September, I wrote to the Financial Times on the subject of the US sub-prime disaster. At a time when many banking commentators were trying to minimise the problems, I suggested that 'a "buyer of last resort", such as the...
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