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Lehman Brothers wasn't worth any public money. But AIG? Well, that's another story. After the Bear Stearns, Fannie Mae and Freddie bailouts, people applauded when Treasury Secretary Henry Paulson... Read more...
The credit crunch has been cruel to some fund managers, notably Bill Miller of Legg Mason, who kept on buying as financial stocks kept on tanking. On the other hand, Bill Gross of on-fire Pimco, went... Read more...
The spotlight shifted a bit from Fannie Mae and Freddie Mac right back to Lehman Brothers, leaving little room for others. But the New York Times managed to squeeze in Washington Mutual, whose stock... Read more...
The bailout of Fannie and Freddie has been a rank disaster for common shareholders of the two companies. They are clearly the big losers. The preferred shares are not as widely owned, but regional... Read more...
We've discussed Morgan Stanley's behind the scenes role in the bailout of Fannie and Freddie. You've no doubt heard that Morgan Stanley stars Bob Scully and Ruth Porat headed a team of 39 executives... Read more...
For all the mismanagement that plagued the GSEs, they really did what they were supposed to. They expanded homeownership in America. And by moving into subprimes and other non-prime loans, they ended... Read more...
We've discussed the role of Morgan Stanley in the meltdown of Fannie and Freddie. The firm advised Henry Paulson, and in some sense helped cement the Secretary's decision to sound the death knell for... Read more...
The news of the federal takeover of Fannie Mae and Freddie Mac spells really bad news for value investors--notably Bill Miller, who just couldn't believe that a beaten down stock wouldn't bounce... Read more...
Morgan Stanley was the low bidder in the Treasury's auction to find a top Wall Street adviser on GSE-related issues. It ended up making a stunning discovery: Freddie Mac's capital position was worse... Read more...
We tend to think of Goldman Sachs as the firm with the most influence in Washington, given the many former execs that have ended up in high... Read more...