It's pretty clear to me that there has been a substantial upgrade in the top executives at both of these key institutions. And it is also clear to me that the Obama Administration has helped substantially in the resurrection of both Fannie and Freddie. And so has the US Fed.
It is especially good to see the substantial earnings turnaround in Derivatives at both Fannie and Freddie.
It is also really good to see the substantial improvement in Bad Debts at both Fannie and Freddie.
So the blow-out 2Q 2013 earnings of both Fannie and Freddie continue the very positive earnings trend of all US Big Financial. Not so with the US Big Non-Financial Corps.
Below here are the earnings of these two for the 2Q 2013 and for the comparable 2Q 2012:
| 2Q 2013 | 2Q 2012 | |||
| GAAP | GAAP | |||
| Net | Net | |||
| Income | Income | |||
| From | From | |||
| Continuing | Continuing | Increase | Increase | |
| Operations | Operations | (Decrease) | (Decrease) | |
| mil $s | mil $s | Amount | % | |
| Fannie Mae | 10,095 | 5,119 | 4,976 | 97% |
| Freddie Mac | 4,988 | 3,020 | 1,968 | 65% |
| Total of both | 15,083 | 8,139 | 6,944 | 85% |
