Fannie and Freddie: Biggest Zombies

By Paul Kedrosky · May 8, 2009 · ·

All you zombies hide your faces
All you people in the street
All you sittin’ in high places
The pieces gonna fall on you
   — “All You Zombies”, The Hooters (1985)

As Breakingviews points out, it is absurd leaving Fannie and Freddie listed. They are zombies, not viable entities, and it is grotesque and absurd to pretend otherwise:

Fannie and Freddie still the biggest zombies.

Fannie lost a whopping $23bn in the first quarter – amazingly, less than in the previous two periods. The US Treasury will keep it solvent – and has quietly doubled its combined commitment to Fannie and Freddie to $400bn. Both should be delisted and put on the government’s books.

Related posts:

  1. Bush Taking Freddie/Fannie Bailout to Congress
  2. The Case for Wiping out Fannie/Freddie Shareholders
  3. Fannie and Freddie: One HELOC to Go, Please
  4. The Ebay Fannie/Freddie Insider Selling Sign
  5. Freddie and Fannie are Alive and Living in U.K.