ajtj99's Market Pulse

[jdaasoc]

Barney Frank was on the record as of 8/25/08 that GSE's were not as bad as one would think. I would like to hear his thoughts.

http://money.cnn.com/2008/08/22/real_estate/barney_frank.moneymag/


Q. Your legislation will also provide support to Fannie Mae and Freddie Mac should they need it. The tab could run tens of billions of dollars. Again, why should taxpayers bear the cost?

A. I believe Fannie and Freddie are better off than the market thinks. Over the long term the market is a very rational distributor of resources, but in the short term it can fall prey to hysteria. Sometimes you need to deal with that.


PS

I was tryint to find out who this Jim lockhart is. It seems to be a another Andover classmate of Bush's

http://www.well.com/user/mmc/9907col.html