Баффет гонит на Фанни Мэй и Фредди Мас
Много английских букофф - если кто зачхочет, переведите точно его прямые цитаты - я не вполне уверен в своем английском, могу в деталях допустить неточности. Но общая тональность мне понравилась:))))
Buffett Says Fannie Mae, Freddie Mac `Game Is Over' (Update4)
By Josh P. Hamilton
Aug. 22 (Bloomberg) -- Fannie Mae and Freddie Mac, the two largest mortgage finance companies, ``don't have any net worth,'' billionaire investor Warren Buffett said.
``The game is over'' as independent companies said Buffett, the 77-year-old chairman of Berkshire Hathaway Inc., in an interview on CNBC today. ``They were able to borrow without any of the normal restraints. They had a blank check from the federal government.''
Freddie Mac and Fannie Mae touched 20-year lows yesterday on the New York Stock Exchange on speculation a government bailout will leave the stocks worthless. U.S. Treasury Secretary Henry Paulson won approval from Congress last month to pump emergency capital into the companies, which account for more than half of the $12 trillion U.S. mortgage market.
Fannie and Freddie mispriced their products and ``kept existing because they had the federal government behind them,'' Buffett said. Omaha, Nebraska-based Berkshire had been among the largest holders of Freddie until about 2001, when it became apparent the company wasn't being run well, he said.
The two mortgage companies recorded almost $15 billion in combined net losses in the past four quarters as delinquencies rose to record levels, shrinking their capital. The swoon sparked concern they may not be able to weather the worst housing slump since the Great Depression and prompted Paulson to step in with a rescue plan.
Fannie, down 95 percent in the past year before today, advanced 34 cents to $5.19 at 9:32 a.m. in New York Stock Exchange composite trading. The stock was trading at almost $70 a year ago. Freddie, down 91 percent this year, added 24 cents to $3.40.
More bank failures are possible this year, Buffett said, and he suggested penalties should be meted out to people who spread rumors about the solvency of investment banks. Speculation about cash shortages contributed to a run on Bear Stearns Cos. and its forced sale to JPMorgan Chase & Co. earlier this year.
``If your virtue is questioned, you've got a problem,'' he said. In the normal course of business, ``there is no investment bank that can pay all its liabilities tomorrow.''
Buffett said he's concerned that inflation will start being built into expectations as it was during the 1980s. ``If that happens again, we're in big trouble,'' he said.
Полный текст - тут:
http
://bloomberg.com/apps/news?pid=20601087
это я к вот в связи с чем:
http://kramarenko-a.livejournal.com/tag/fannie+mae
спасибо за наводку abvgd
Buffett Says Fannie Mae, Freddie Mac `Game Is Over' (Update4)
By Josh P. Hamilton
Aug. 22 (Bloomberg) -- Fannie Mae and Freddie Mac, the two largest mortgage finance companies, ``don't have any net worth,'' billionaire investor Warren Buffett said.
``The game is over'' as independent companies said Buffett, the 77-year-old chairman of Berkshire Hathaway Inc., in an interview on CNBC today. ``They were able to borrow without any of the normal restraints. They had a blank check from the federal government.''
Freddie Mac and Fannie Mae touched 20-year lows yesterday on the New York Stock Exchange on speculation a government bailout will leave the stocks worthless. U.S. Treasury Secretary Henry Paulson won approval from Congress last month to pump emergency capital into the companies, which account for more than half of the $12 trillion U.S. mortgage market.
Fannie and Freddie mispriced their products and ``kept existing because they had the federal government behind them,'' Buffett said. Omaha, Nebraska-based Berkshire had been among the largest holders of Freddie until about 2001, when it became apparent the company wasn't being run well, he said.
The two mortgage companies recorded almost $15 billion in combined net losses in the past four quarters as delinquencies rose to record levels, shrinking their capital. The swoon sparked concern they may not be able to weather the worst housing slump since the Great Depression and prompted Paulson to step in with a rescue plan.
Fannie, down 95 percent in the past year before today, advanced 34 cents to $5.19 at 9:32 a.m. in New York Stock Exchange composite trading. The stock was trading at almost $70 a year ago. Freddie, down 91 percent this year, added 24 cents to $3.40.
More bank failures are possible this year, Buffett said, and he suggested penalties should be meted out to people who spread rumors about the solvency of investment banks. Speculation about cash shortages contributed to a run on Bear Stearns Cos. and its forced sale to JPMorgan Chase & Co. earlier this year.
``If your virtue is questioned, you've got a problem,'' he said. In the normal course of business, ``there is no investment bank that can pay all its liabilities tomorrow.''
Buffett said he's concerned that inflation will start being built into expectations as it was during the 1980s. ``If that happens again, we're in big trouble,'' he said.
Полный текст - тут:
http
://bloomberg.com/apps/news?pid=20601087
это я к вот в связи с чем:
http://kramarenko-a.livejournal.com/tag/fannie+mae
спасибо за наводку abvgd