Recent

% | $
Quotes you view appear here for quick access.

Berkshire Hathaway Inc. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • bobo21029 bobo21029 Jul 17, 2002 10:55 AM Flag

    Mr. Greenspan & housing bubble

    .....<<But while Mr. Greenspan was eager to denounce the excesses of the last decade, he did not choose to address either the likelihood of or the possible damage from an end to the current boom in housing.>>

    ......perhaps that's because Uncle Alan knows full well the exposure Freddie & Fannie will have if the bubble pops....
    ....."Fannie Mae and Freddie Mac have raked in huge profits from the housing bubble. But they have also concentrated in themselves, an
    enormous exposure to mortgage debt�a concentration even greater than the 35% of all financial derivatives contracts sitting in one bank, J.P. Morgan Chase�and have issued some
    obligations which are very risky. Thus, it is ironic that the housing market depends on Fannie Mae and Freddie Mac, which are in
    such rotten condition that they could puncture the very housing bubble which they are called upon to support."
    Richard Freeman in "Fannie and Freddy Were Lenders: The US Real Estate Bubble Nears Its End"...7/21/02 Executive Intelligence Review

    The beat goes on....
    Bobo

 
BRK-A
217,440.00+1,740.00(+0.81%)May 27 3:59 PMEDT