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stonethecrows

One Might Say This Qualifies As "not Good"....

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I haven't seen this already posted so here we are: Another 2 down-were these on the list of 90? http://online.wsj.com/article/SB121703904765687047.html

And oh deary me-the Fannie/Freddie bailout doesn't appear to be going quite according to plan either...http://www.bloomberg.com/apps/news?pid=20601087&sid=aDesHvSN6kek&refer=home

Standard & Poor's may downgrade the subordinated bonds of Fannie Mae and Freddie Mac, surprising investors who had anticipated the securities would be supported by any Treasury rescue plan. ~snip~

Credit-default swaps on Freddie Mac's subordinated debt, which is repaid after senior bonds, climbed 42 basis points to 182 basis points, while contracts on Fannie Mae's subordinated debt rose 40 basis points to 180 basis points, according to CMA Datavision.

Edited by stonethecrows

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Well, the Fannie situation is surely obvious.

Even stock brokers can understand that throwing money onto a fire doesnt put the fire out and the money will be reduced to its constituent parts for them to sweep up later.

Or maybe they dont?

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I haven't seen this already posted so here we are: Another 2 down-were these on the list of 90? http://online.wsj.com/article/SB121703904765687047.html

And oh deary me-the Fannie/Freddie bailout doesn't appear to be going quite according to plan either...http://www.bloomberg.com/apps/news?pid=20601087&sid=aDesHvSN6kek&refer=home

It's kind of good news; at least the FDIC didn't seize the hundreds of insolvent banks all in one weekend. Very inflationary.

Also, the Fannie plan is going exactly according to plan as the US gov is putting itself in first lien position on fannie's/freddie's assets; this was always going to kill everybody below them.

Edited by kilroy

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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