Board-Ansicht
Mix-Ansicht- Fannie Mae vs Savings & Loan Krise 1989/90 - black elk, 05.01.2001, 12:07
- Re: Fannie Mae vs Savings & Loan Krise 1989/90 - Ja, ja & Danke! - dottore, 05.01.2001, 16:59
Re: Fannie Mae vs Savings & Loan Krise 1989/90 - Ja, ja & Danke!
>Hi,
>dank auch an @puppetmaster für den Tip, offenbar sehen in den USA auch einige diese merkwürdige Entwicklung Zinssenkung und Fannie Mae/ Versorger fallen trotzdem. Unten noch ein weiterer Link, die meisten websites sind das was man bei uns den 'Bund der Steuerzahler' nennen würde..
Sehr guter Link, Danke!
>Warum kauft Fannie eigene Schuldtitel zurück (hält 30% der eigenen Ausleihungen), wo ist das Risiko? Damals bei der S&L Krise waren es stark steigende Zinsen, wird es diesmal eine Rezession sein, fallene Immopreise und Kaufkraftverlust durch sinkende Aktienkurse?
Diesmal ist es bekanntlich"anders", lieber Freund! Denn diesmal werden die Immopreise grad senkrecht fallen.
Zunächst aber dieses:
Von der FM web-page.
To Our Shareholders
Nineteen ninety-nine was yet another extraordinary year for Fannie Mae. Topping off a decade of consistent double-digit growth in operating earnings per share, Fannie Mae proved that our mission to"tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing" for American families is also a winning business model.
Das Motto von Fannie Mae lautet bekanntlich:
OUR BUSINESS IS THE AMERICAN DREAM
Klartext (das der amerikanische Traum bedeutet: Alles sich leisten und nie bezahlen): Jeder Amerikaner soll in seinen eigenen vier Wänden wohnen (schön) und dafür aber nur ganz klitzekleine Zinslein bezahlen, weil FM eine Government Supported Enterprise (Entity) ist. Ausserdem, wie im Link nachzulesen: mit unbeschränkter Haftung durch den Kongress. Also so was wie eine AG OHG.
Our record performance in 1999 illustrates that Fannie Mae is not the typical Fortune 500 financial services-related corporation. As the largest source of financing for home mortgages in America, Fannie Mae raises capital from investors around the world
JA! Da steckt viel Geld drinne von Financials aus aller Welt. No risk, much fun.
to keep mortgage finance flowing to lenders in every community, through all economic conditions, at the lowest rates in the market.
Wie gesagt... THE DREAM...
By aggressively
(oh, oh!!!)
reaching out to underserved housing markets, tapping the U.S. and global capital markets to serve all consumers, and being a model for diversity, Fannie Mae has been able to grow our business at rates that beat both Wall Street's expectations and even our own stretch goals.
Among the highlights of Fannie Mae's financial performance:
Earnings increased by 14 percent to $3.9 billion.
Earnings per share (EPS) increased by 15 percent.
This was the 13th consecutive double-digit percentage increase in operating earnings per share.
Total revenue increased by 13 percent.
Mortgage assets increased by over $100 billion after a $99 billion increase in 1998.
Diese"Assets" sind natürlich Schulden (hat nur jemand anderer...)
Net interest income increased by 19 percent, in spite of interest-rate volatility in the market.
Credit losses fell by more than 50 percent.
Und in der Rezession werden sie gleich mal um 100 % steigen - und dann ist es wieder so wie früher...
The future should bring continued growth for Fannie Mae. Launching my first year as Chairman and CEO—and my seventh with Fannie Mae—I made a bold statement to investors last May. Over the five years ending in 2003, Fannie Mae is committed to at least 10 percent EPS growth each year;
"Committed to growth" - das bitte auf der Zunge zergehen lassen! Und dann noch 10 % - heißt: double your"assets" usw. every seven years. The sky is the limit.
we expect our EPS to match or exceed the average 13.6 percent annual growth over the five years ending in 1998; and we have set as a goal to double our 1998 EPS by the end of 2003.
Man möge seinen Taschenrechner bemühen, um unschwer zu erkennen, dass die den Verstand verloren haben. Wie (fast) alle Amis übrigens.
Our 1999 financial performance surpassed our yearly commitment and expectations, and put the company on track to meet our five-year goal. Few Fortune 500 financial services companies can match Fannie Mae's long and steady record of EPS growth, and our prospects for future growth are bright. Fannie Mae's market, mortgage debt outstanding, is $5 trillion in size and is expected to continue expanding 6 to 8 percent per year. Within our growing market, Fannie Mae has plenty of room to grow its share. And while Fannie Mae currently finances 24 percent of mortgage debt outstanding, we only receive about three and a half percent of mortgage finance industry revenues. To meet our EPS goal requires increasing our share of revenues by only about half a percentage point.
Wie der kleine Moritz sich das so vorstellt. Von 3,5 auf 7 % wären sogar gleich 100 %.
More importantly, with the plans in place, Fannie Mae is positioned to be a winner in the expanding Internet economy of the new millennium.
Ah, das liebe Internet zum Schluss noch und noch dazu"expanding"! Dazu haben wir in"The Coming Internet Depression" schon alles Notwendige gelesen.
Und Gruß
d.
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