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发帖数: 5368 | 1 NEW YORK (Reuters) – The Obama administration will propose a wind-down of
government-controlled mortgage buyers Fannie Mae and Freddie Mac, according
to documents obtained by Reuters.
The White House proposed three long-term options to reduce the government's
role in the housing market and took several shorter term steps aimed at
raising the cost of government-backed mortgages.
KEY POINTS: * Report recommends phasing in higher pricing for Fannie,
Freddie to level even with private sector over several years * Obama admin
official says no change to commitment to backstop Fannie, Freddie existing
obligations
COMMENTS:
CHRIS RUPKEY, CHIEF FINANCIAL ECONOMIST, BANK OF TOKYO-MITSUBISHI UFJ, NEW
YORK:
"The Treasury has been warning about the risks from Fannie and Freddie ever
since the late 1990s. The fact that they were undercapitalized during the
height of the bursting of the housing bubble certainly helped to undermine
and add to the general downturn in the market. Anything that gets this issue
behind us would be a good thing.
"One of the issues is that a lot foreign central banks have put money into
Fannie and Freddie debt that allows them to operate, and you have to be very
careful in fixing these institutions because they do have foreign central
bank ownership. They have to tread cautiously, otherwise somebody else is
going to have to fund them.
"Their mission to supply funding to the housing sector of the economy, this
is a good time to address this simply because the demand for new mortgages
when you have housing starts down around 500,000 annual rate is much
different than if you had housing starts around a million and a half annual
rate."
NANCY VANDEN HOUTEN, SENIOR ANALYST, STONE & MCCARTHY, PRINCETON, NEW JERSEY:
"The big overhaul to the housing finance system is going to take a long time
and it's going to be influenced a lot by politics. I think in the end the
three options -- there's kind of a big small and middle option and I doubt
that we'll be left with something in which the government's role in the
mortgage market disappears entirely.
"There are certain things that can happen right away without congressional
action, like raising the fees that the GSEs charge -- it seems like steps
will be taken to reduce their involvement in the market now and I think that
could be a little bit negative for the housing market as it's trying to
recover."
LARRY MILSTEIN, HEAD OF GOVERNMENT AND AGENCY TRADING, R.W. PRESSPRICH & CO.
, NEW YORK:
"Agency debt spreads are a little tighter. This announcement came as
expected. The expectations coming in was a proposed wind-down of some kind
with the GSEs. There will be a bias toward tighter spreads because of less
in agency issuance. But this is going to take time."
JACK DEGAN, CHIEF INVESTMENT OFFICER, HARBOR ADVISORY CORP, PORTSMOUTH, NEW
HAMPSHIRE:
"They (the U.S. Treasury) didn't do anything to shock the market. They are
outlining options that the Congress can choose from, and now throws the ball
to the Congress. This array of options out there, it is giving a phasing
period that the market can adjust to and when there is that phasing period,
the
market can almost adjust to anything. I don't think this will have a
negative impact on the market."
PAUL BALLEW, CHIEF ECONOMIST, NATIONWIDE INSURANCE, COLUMBUS, OHIO:
"It's important for us to take the distortions out of the environment. What
happened in housing was a series of distortions in the marketplace and
Fannie and Freddie contributed to that, along with other activities.
"It's healthy for us to take distortions out of the market because we don't
want to go through this cycle again and again.
"Housing's at or near bottom, if we're going to make changes, now's the time
." | L******f
发帖数: 5368 | 2 Obama动作很快。中国在两房的损失估计一千亿美元都
打不住。
according
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【在 L******f 的大作中提到】
: NEW YORK (Reuters) – The Obama administration will propose a wind-down of
: government-controlled mortgage buyers Fannie Mae and Freddie Mac, according
: to documents obtained by Reuters.
: The White House proposed three long-term options to reduce the government's
: role in the housing market and took several shorter term steps aimed at
: raising the cost of government-backed mortgages.
: KEY POINTS: * Report recommends phasing in higher pricing for Fannie,
: Freddie to level even with private sector over several years * Obama admin
: official says no change to commitment to backstop Fannie, Freddie existing
: obligations
|
|
