"Two rooms" free economic backtrack nationalized.

Fannie Mae (Fannie Mae) and Freddie (Freddie Mac) are two very special as a company, because of its specificity on this system, in fact, to rescue the U.S. government on this issue in hand into a super-dilemma .embarrassing situation. .Whether to save and not save, the U.S. government will certainly come to a bad name. .<P> Fannie Mae and Freddie Mac are two privately owned listed companies, market principles, especially from the Western market economy principle, the investment risk, the U.S. government sit idly by, right and proper. .Provisions of the U.S. bankruptcy liquidation incredibly mature, Ye Hao creditors, shareholders or yours is a cry Ye Hao, jumped Ye Hao, themselves the consequences of investment mistakes go. .</ P> <P> problem is Fannie Mae and Freddie Mac, in fact, is "quasi-state-owned enterprises", so that investors take a market-oriented business investment results is really unfair. .</ P> <P> Fannie Mae and Freddie Mac, as this particular system is called Government Sponsored Enterprises, referred to as the GSE, been translated into more "government authorized enterprise", in fact, according to their literal meaning, call it ."The government is responsible for enterprise" or "government-sponsored enterprises" and the like are no problem. .You say it they are not state-owned enterprises, while the two companies, effectively assume the functions of certain government agencies, state-owned enterprises in the big pot defects can be found here, two-bedroom and in this "quasi-state" status enjoy privileges including the ability to exempt from federal .and local government tax revenues, to enjoy from the U.S. Treasury were 22.5 billion dollars in credit support. .If you say they are not private bar, they both do in terms of profits in the law for the purpose of privately owned enterprises. .</ P> <P> This should be the U.S. economy on an innovative private bar. .</ P> <P> the U.S. Government of Fannie Mae and Freddie Mac that the "quasi state-owned enterprise" requirement is not high in many areas. .In the capital size of this important anti-risk indicators, government regulation is very tolerant. .Compared to the huge portfolio, the Fannie Mae and Freddie Mac's capital is no different from ants than the size of elephants. .According to statistics, by the end of last year, Fannie Mae and Freddie Mac, the two companies totaled $ 83,200,000,000 core capital, which is 83.2 billion U.S. dollars supporting the two companies 5.2 trillion in guarantees and debt. .So some people say, even if the total asset portfolio in terms of occurrence of the book is not very serious losses, "Fannie and Freddie" crisis may occur, it shows the vulnerability of their ability to resist risks. .</ P> <P> if any of the "two-bedroom" bankruptcy, investors asked: the Government, "Fannie and Freddie," on the market did not follow the strict requirements of financial institutions supervision, why have to bear the consequences when we come to the "two-bedroom ."viewed as a market-oriented financial institutions to do? .</ P> <P> Fannie Mae and Freddie Mac, the two companies to this grave crisis, to a certain extent, thanks to its "quasi-state" status of the gift. .Since the quasi-state companies background, they can issue credit rating agency equivalent to the U.S. Treasury bonds to finance the cost of capital low. .So the two companies dare to traditional business it acquired from lenders mortgage debt, as well as their packaging card securitization (MBS), but also boldly expand profit channels, purchase of other private entities to issue the MBS, from which .to earn their cost of funds and the purchase of low spread between MBS. .Due to the current subprime mortgage crisis engulf an entire mortgage market, which had stage 3A MBS credit ratings began to fall, the market value of the drop. .Even worse, the two companies hold such a large amount of MBS, Fannie Mae was more than 127.8 billion U.S. dollars, Freddie Mac, as more than 2670 billion U.S. dollars, accounting for most of the class of a MBS. .</ P> <P> Fannie Mae and Freddie Mac, the creditors around the world, China should be one of the major creditors. .The two corporate finance, easily, because they have understood from the federal government implicit guarantee, which makes them to release in the market with the highest credit rating agency debt. .These include investors, including many foreign governments have no doubt that if Fannie Mae and Freddie Mac crisis, the U.S. government will 托底. .</ P> <P> the world in the past did not hesitate to buy Fannie and Freddie agency debt, in fact, the U.S. government to buy credibility. .Had grabbed an American professor of political science to ask: Why do some countries can have nuclear, and some countries not? .Professor gave the answer: a nuclear safety and insecurity of the points. .This criterion is probably out of a country's international credibility it. .The credibility of the United States Government to regret it, supported by the international credibility of the U.S. dollar, Wall Street, they will face the storm can be imagined. .</ P> <P> If the U.S. government determined to save, be nationalized, then in addition to economic impact, will be the American belief in the earthquake. .Fannie Mae is the beginning of the creation in 1938 of state-owned monopoly, has experienced long after the completion of three years of privatization, it would be a great free practice of economic theory, and now have to go back and take the old path, the core values of American society .will He Yikan? .</ P> <P> credibility and value in the United States contests, while condemning the members of Congress how to take taxpayer money to subsidize investors, while establishing another vote on the bailout bill agreed. .</ P> <P> establishing another case, if the ultimate end can only be acquired through the state, then the "government licensing companies," will create a new definition, the Alliance: income to calculate the shareholders, the second line: deficits are the property of the taxpayer, scroll reads: .super state. .</ P>.