Fannie Mae-No Politics (FNMA)

[brandemarcus]

1. yank, you have been warning about this housing crisis for two years now and I keep telling you look at price -rent ratios. They are nowhere as high as they were in 2005. You will not get the same drop and they were even lower in 2011 when we are judging what level of reserves were adequate.
Is the nasdaq back to 2000 levels , are you worried? Don't earnings justify the prices this time?- (Not an expert on tech sector)


2. Batting practice is not the top of the ninth and six runs ahead.

3. Cash losses on loans were 5.2 billion a quarter for 2010 and 2011, interest income would have covered 70% of those losses. If the losses had continued at the rate of 2010 and 2011, Fannie had enough loss reserves for over 8 years! Blackstone, Hempton, Myself were being realistic, Government and Joe Girardi were/ are crazy.
4. Can you produce those gm numbers and we will compare magnitudes? Take a few days , it will be interesting!