Cisneros Best Quality of housing in the World? |
Thursday, 23 October 2008 |
Henry Cisneros: Fannie and Freddie wonât need Treasuryâs help
Henry Cisneros, former Housing and Urban Development Secretary under President Bill Clinton, flat-out tells our viewers the taxpayer should notâ and will notâ be on the hook for propping up Fannie Mae and Freddie Mac, the two mortgage giants with major government connections. See FOX News interview: Henry Cisnerosâ¦we have not only the strongest homeownership but the Best Quality of housing in the world.
Henry Cisneros, former Housing and Urban Development Secretary under President Bill Clinton, flat-out tells our viewers the taxpayer should notâ and will notâ be on the hook for propping up Fannie Mae and Freddie Mac, the two mortgage giants with major government connections. He talked to me and our viewers at great length yesterday on Countdown to the Closing Bell about the biggest story of the day: Fannie and Freddie were both down some 20% on fears common shareholders of the stocks will be wiped out if the Treasury Dept. has to intervene to prop up the companies due to bad mortgage bets theyâve made. HIs appearance was quite timely considering he worked closely with (FNM: 0.71, -0.08, -10.12%) and (FRE: 0.80, -0.03, -3.61%) during his years with the Clinton Administration.
But thereâs another story with which heâs closely linked: CountryWide Financial. Until October of 2007, he sat on their Board of Directors. Please listen to what he has to say about CountryWideâs embattled founder Angelo Mozilo and about the mortgage loan he himself received from CountryWide. This is the first time Mr. Cisneros has talked at length about CountryWide since the housing bubble popped so we appreciate his time. Here are the clipsâ¦let me know what you think.
http://liz.blogs.foxbusiness.com/2008/08/19/henry-cisneros-fannie-and-freddie-wont-need-treasurys-help/ |