Posted To: Pipeline Press

Sunday morning I was trying to explain to my cat Myrtle how the total cost of rescuing a stranded Matt Damon in all of his films (think Saving Private Ryan, Interstellar, The Martian) was an estimated $900 billion . She was not impressed, seeing as a) the scent of turkey in the refrigerator that is more captivating, and b) she overhears billions continually being talked about in this business. For example, in September of 2008 the agreement the Treasury made with both GSEs (Government Sponsored Enterprises, namely Freddie and Fannie) specified that in exchange for future support and capital investments of up to US$100 billion in each GSE, at the inception of the conservatorship, each GSE shall issue to the Treasury US$1 billion of senior preferred stock, with a 10% coupon, without cost to the…(read more)

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Source: Mortgage News Daily