1. Of course the very agreement that takes all the positive net worth in one quarter, provides for support of up to 140 billion in the event of a loss in any one quarter. Your post was too funny Joe. I just had to reply.
2. When the CEOs of Fannie and Freddie walk on water, Joe will report that they can't swim.
3. It's interesting to note that the credit loss provision was only reversed 700 million in the quarter with still 30.8 billion in loss reserves. If the real estate recovery keeps up at current pace they are going to have to throw in quarter of more like taking 5 billion from those loss reserves. That will give them almost 10 billion in net income that quarter. Fannie had one quarter where they reversed a huge amount of loss reserves.
4. I was digging around in the 10k but could not find the quarterly charge-offs nor an update on the severity of claims in the last quarter. If anyone could find this, thanks in advance?
5. Belated thanks to Beta for making my morning with the full WHO lyrics.
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