talking about the fannie and freddie, just for curiousity: where does this number come from? I am looking at bloomberg and I see total liabilities of 838 usd bn for fannie and 767 usd bn for freddie. I know I am missing something, but honestly I don´t know… any help? thx a lot
qualified SPEs out of the balance sheet?
Yes, my understanding is that the bulk is off balance sheet MBS. But it is interesting that depending on which source you are looking at, the estimate changes (sometimes by several hundred million dollars!). I guess some of this stuff is so complex that nobody knows exactly what the amount is.
their annual report should be reporting the number of SPV’s floated by them to offload their loan receivables
Off BS trusts. Since the GSEs are still technically public companies they should have a REG AB website showing their outstanding securitization trusts. The idea that the us government is funding 5 TR is ridiculous. People need to classify this stuff correctly. Irresponsible journalism sucks.
I think that with Fannie and Freddie, the majority of their profits/liabilities pertain to stuff thats usual “not there”. In fact, weren’t some of their executives from the 2000 to 2004 period made multi-millionaires on the basis of imaginary profits? Willy
one more: has anybody seen the “corrected” valuation of total assets and liabilities done by morgan stanley that has triggered this? I would like to know how much is the gap