350zCommtech's Account Talk

[nnuut]

I count 10 more trading days. The earliest we can make a move is Nov. 3rd, to be in for the 4th.

I stand corrected, forgot about the weekends!

 

[350zCommTech]

Totally absurd!

Fannie, Freddie bid for Treasury rescue work: sources

Mon Oct 20, 2008 4:39pm EDT

SAN FRANCISCO (Reuters) - Mortgage finance companies Fannie Mae (FNM.P: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.P: Quote, Profile, Research, Stock Buzz) have each bid to manage home loans the U.S. Treasury will purchase under its multibillion-dollar program to soak up bad mortgage bets, said two sources familiar with the companies' bid.

Earlier this month, Treasury said it was seeking a large financial company to manage the mortgage securities it will buy and another to manage whole loans. Treasury is expected to award that whole loan contract in the coming days.

"They ... have some skills in this area," said James Lockhart, the chief regulator for the companies that are now in government-run. "Whether it is contacts with the banks that hold these loans. Whether it is servicing or whatever."

The Treasury is authorized to spend hundreds of billions of dollars to buy failing assets from finance companies to help them scrub their balance sheets and return to normal lending.
Lockhart, director of the Federal Housing Finance Agency, would not comment on whether the agencies had applied for Treasury work, but said that Fannie Mae and Freddie Mac have many skills required to manage mortgage assets.

"Certainly, they have a mission of helping out the mortgage market," Lockhart told Reuters while attending the annual meeting of the Mortgage Bankers Association. "I don't think (this) is expanding their mission. I think it's just about using their current facilities."

(Reporting by Patrick Rucker; editing by Gary Crosse)http://www.reuters.com/article/ousiv/idUSTRE49J7LW20081020

 

[fabijo]

nuts.

 

[Birchtree]

Why not - they probably initiated most of the toxic loans to our at risk servants. They know where all the hidden secrets are hiding.

 

[nnuut]

Lets see, we BAIL them out, for helping ruin the economy then we give the work back to them to handle?????????????????? WHAT~!!!

 

[Frixxxx]

Why not - they probably initiated most of the toxic loans to our at risk servants. They know where all the hidden secrets are hiding.

They'll charge a nominal fee (recoupment) to manage it. Talk about a joke!:suspicious:

 

[Birchtree]

Perhaps Country Wide Financial will be selected now that they have found redemption as part of Bank America.

 

[WIND_HUNTER]

Nice avatar! Now that's the type avatars we've all grown to love. Well, maybe not all of us, but most of us. I've still got my 2 IFT's for the month, so I'm looking for a chance to sell this rally and buy back lower.

 

[Show-me]

Is that sweet Kendra on the avatar?

 

[350zCommTech]

Is that sweet Kendra on the avatar?

Is Kendra one of the "Girls next door", playmates? If so, then yes, that is the hot golfer on my avatar.

 

[350zCommTech]

Breakout denied. Back in the triangle we go. Not good.

 

[nasa1974]

Breakout denied. Back in the triangle we go. Not good.

You would expect today to have a slight sell off after yesterdays gains. But right now we are giving back at least half of what we earned yesterday. Market witching hours 10:00 to 10:30am, noon and 2:00 to 4:00pm. Maybe the market will rally before close.:laugh:

 

[350zCommTech]

You would expect today to have a slight sell off after yesterdays gains. But right now we are giving back at least half of what we earned yesterday. Market witching hours 10:00 to 10:30am, noon and 2:00 to 4:00pm. Maybe the market will rally before close.:laugh:

The pattern is about to end. It's going to break one way or the other. Put your head between your legs and pray that it breaks your way.

The Libor rates have been going down, but I don't trust it. It's not going down because banks are lending to each other, it's going down because the CBs are forcing it down with their "unlimited liquidity".

We still don't have transparency or trust.

 

[nasa1974]

The pattern is about to end. It's going to break one way or the other. Put your head between your legs and pray that it breaks your way.

The Libor rates have been going down, but I don't trust it. It's not going down because banks are lending to each other, it's going down because the CBs are forcing it down with their "unlimited liquidity".

We still don't have transparency or trust.

I know what I would like to see, but reality can be unfriendly. Currently I am -21.52 in the tracker. If I could realistically get into the minus 14 to minus 16 range in the tracker in the next few days I would fall back to G until early November. Then hope to get to 0 by end of the year.

 

[Steadygain]

http://www.tsptalk.com/mb/showpost.php?p=186705&postcount=227


"The other countries won't let me insist on female sports played in fashions and manners that I deem appropriate"

Your Ativar reminded me of something I'd said a while back.

Even in a moment of insanity - it's rare I'd forget something if I wrote it down

 

[poolman]

The pattern is about to end. It's going to break one way or the other. Put your head between your legs and pray that it breaks your way.

The Libor rates have been going down, but I don't trust it. It's not going down because banks are lending to each other, it's going down because the CBs are forcing it down with their "unlimited liquidity".

We still don't have transparency or trust.

Good way to put it 350Z. Somthing is about to give in the next 2 weeks.

I'm looking for major Volatility coming. That's where to catch the money.

 

[Frixxxx]

Good way to put it 350Z. Somthing is about to give in the next 2 weeks. I'm looking for major Volatility coming. That's where to catch the money.

As opposed to the steady pattern of the last two weeks?:laugh:

 

[poolman]

As opposed to the steady pattern of the last two weeks?:laugh:

The Big moves are coming. > 500 point moves.

 

[350zCommTech]

Currently testing the bottom of the triangle.:worried:

 

[Geaux4it]

Currently testing the bottom of the triangle.:worried:

As I have been saying. I think this market will not bottom until there is nothing left to give. Plenty more pain to come.

Geaux