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"If the Obama administration and lawmakers continue to delay action on an overhaul, the two government-owned companies may find themselves in a long-term limbo in which they remain under U.S. control even if they eventually pay more to Treasury than they ever received in aid.
Under the terms of a new agreement with Treasury that went into effect this year, the enterprises will be allowed to retain only $3 billion in net worth."
“They have no ability to recapitalize their business,” Tim Rood, a managing director at Washington-based Collingwood Group LLC, a financial services consulting firm.“They could spin off $100 billion next year and it wouldn't make a stitch of difference."
Numbers on that scale aren't out of the question.Fannie Mae in a March 14 regulatory filing said it could soon be required to send as much as $62 billion to the US Treasury because once it is turning a profit, it may have to start counting potential tax credits as part of its net worth.The so- called deferred tax assets weren't reported as assets when Fannie Mae didn't expect it would ever earn taxable income again.
To address the tax credit issue, the company requested extra time to file its quarterly and annual earnings with the Securities and Exchange Commission, and the extension expires this week.
Executives are expected to present a solution to the tax-credit issue in the report.
"Whether the companies' gains will induce lawmakers to move forward with a plan for winding them down remains to be seen."
Also alles ist noch nicht in trockenen Tüchern.
"If the Obama administration and lawmakers continue to delay action on an overhaul, the two government-owned companies may find themselves in a long-term limbo in which they remain under U.S. control even if they eventually pay more to Treasury than they ever received in aid.
Under the terms of a new agreement with Treasury that went into effect this year, the enterprises will be allowed to retain only $3 billion in net worth."
“They have no ability to recapitalize their business,” Tim Rood, a managing director at Washington-based Collingwood Group LLC, a financial services consulting firm.“They could spin off $100 billion next year and it wouldn't make a stitch of difference."
Numbers on that scale aren't out of the question.Fannie Mae in a March 14 regulatory filing said it could soon be required to send as much as $62 billion to the US Treasury because once it is turning a profit, it may have to start counting potential tax credits as part of its net worth.The so- called deferred tax assets weren't reported as assets when Fannie Mae didn't expect it would ever earn taxable income again.
To address the tax credit issue, the company requested extra time to file its quarterly and annual earnings with the Securities and Exchange Commission, and the extension expires this week.
Executives are expected to present a solution to the tax-credit issue in the report.
"Whether the companies' gains will induce lawmakers to move forward with a plan for winding them down remains to be seen."
Also alles ist noch nicht in trockenen Tüchern.
