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1.77 MB
Extraction Summary
0
People
10
Organizations
1
Locations
1
Events
1
Relationships
3
Quotes
Document Information
Type:
Financial report / presentation slides
File Size:
1.77 MB
Summary
This document consists of two slides (pages 159-160) from a KPCB financial presentation titled 'USA Inc. | Income Statement Drilldown'. It analyzes the debt levels and projected costs to taxpayers regarding Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac, citing data from the CBO and OMB. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a document production for a congressional investigation, though the content itself is purely macroeconomic analysis without direct mention of Jeffrey Epstein.
Organizations (10)
Timeline (1 events)
2008-09
Locations (1)
| Location | Context |
|---|---|
Relationships (1)
Treasury Dept.'s cash outlays to purchase Fannie Mae & Freddie Mac preferred stock
Key Quotes (3)
"Net accrued loss to be borne by taxpayers, including net cash infusions (with implied default rate of ~5-10%)"Source
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Quote #1
"Net cash outlay to be borne by Treasury Dept. (and ultimately taxpayers), including Treasury Dept.'s cash outlays to purchase Fannie Mae & Freddie Mac preferred stock"Source
HOUSE_OVERSIGHT_020921.jpg
Quote #2
"What Various Default Rates Could Mean for Taxpayer Ultimate Cash Cost of Fannie Mae & Freddie Mac"Source
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Quote #3
Full Extracted Text
Complete text extracted from the document (1,983 characters)
Debt Level: Fannie Mae + Freddie Mac =
Latest Estimated Ultimate Cost to Taxpayers Varies*
Latest Estimated Ultimate Cost to Taxpayers Varies*
Base-Case Estimated Ultimate Net Loss**
Source
Comments / Assumptions
Source
Comments / Assumptions
$389 Billion
Congressional Budget Office (CBO)
Net accrued loss to be borne by taxpayers, including net cash infusions (with implied default rate of ~5-10%) and risk premiums associated with federal government's implicit guarantee on GSEs' credit.
Bulk of the net loss ($291B) occurred prior to and during F2009.
On a cash basis, CBO's estimate would have been in line with White House OMB's estimate.
Congressional Budget Office (CBO)
Net accrued loss to be borne by taxpayers, including net cash infusions (with implied default rate of ~5-10%) and risk premiums associated with federal government's implicit guarantee on GSEs' credit.
Bulk of the net loss ($291B) occurred prior to and during F2009.
On a cash basis, CBO's estimate would have been in line with White House OMB's estimate.
$160 Billion
White House Office of Management and Budget (OMB)
Net cash outlay to be borne by Treasury Dept. (and ultimately taxpayers), including Treasury Dept.'s cash outlays to purchase Fannie Mae & Freddie Mac preferred stock (with implied default rate of ~5-10%), minus cash received from dividends.
Bulk of the net cash outlay ($112B) occurred prior to and during F2009.
White House Office of Management and Budget (OMB)
Net cash outlay to be borne by Treasury Dept. (and ultimately taxpayers), including Treasury Dept.'s cash outlays to purchase Fannie Mae & Freddie Mac preferred stock (with implied default rate of ~5-10%), minus cash received from dividends.
Bulk of the net cash outlay ($112B) occurred prior to and during F2009.
KP
CB www.kpcb.com
Note: *Latest estimated cost to taxpayers varies and continues to rise. **By F2019E. Source: CBO, OMB.
USA Inc. | Income Statement Drilldown 159
CB www.kpcb.com
Note: *Latest estimated cost to taxpayers varies and continues to rise. **By F2019E. Source: CBO, OMB.
USA Inc. | Income Statement Drilldown 159
Debt Level: Scenario Math – What Various Default Rates Could Mean for
Taxpayer Ultimate Cash Cost of Fannie Mae & Freddie Mac
Taxpayer Ultimate Cash Cost of Fannie Mae & Freddie Mac
[Formula Graphic: Fannie Mae / Freddie Mac Outstanding Loan Guarantees X Default Rate X Loss Severity* = Ultimate Cash Cost to Taxpayer]
Outstanding Loan Guarantees
Default Rate
Loss Severity*
Ultimate Cash Cost to Taxpayer
Default Rate
Loss Severity*
Ultimate Cash Cost to Taxpayer
$5 Trillion¹
(before government conservatorship in 9/08)
(before government conservatorship in 9/08)
2%
50%
$50 Billion
50%
$50 Billion
5%
$125 Billion
$125 Billion
10%
$250 Billion
$250 Billion
15%
$375 Billion
$375 Billion
20%
$500 Billion
$500 Billion
25%
$625 Billion
$625 Billion
$160 Billion
Current CBO / OMB Forecasts of Ultimate Cash Cost of Fannie Mae / Freddie Mac
Current CBO / OMB Forecasts of Ultimate Cash Cost of Fannie Mae / Freddie Mac
KP
CB www.kpcb.com
Note: * Loss severity is liquidation value (foreclosure auction or other means) as a % of the loan amount adjusted for any advances and fees. Source: 1) Fannie Mae, Freddie Mac.
USA Inc. | Income Statement Drilldown 160
CB www.kpcb.com
Note: * Loss severity is liquidation value (foreclosure auction or other means) as a % of the loan amount adjusted for any advances and fees. Source: 1) Fannie Mae, Freddie Mac.
USA Inc. | Income Statement Drilldown 160
HOUSE_OVERSIGHT_020921
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