Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: IceShark who wrote (15337)	8/31/2000 4:21:20 PM
From: Ken98	of 436258

Full faith and credit for this toxic waste junk: <<Lehman sells $2.9 bln subprime mortgage ABS NEW YORK, Aug 31 (Reuters) - Lehman Bros. Holding Inc. (NYSE:LEH - news) on Thursday sold about $2.9 billion floating-rate, asset-backed securities (ABS), supported by subprime mortgages, syndicate sources said. ... The $2.2 billion senior A1 class, which carries a financial guarantee from Freddie Mac (NYSE:FRE - news), was sold at 14.5 basis points over the one-month London Interbank Offered Rate (Libor), the sources said.>> What is Freddie doing guaranteeing subprimes? Talk about distorting the market/risk pricing mechanism... Have you ever looked at Fannie balance sheets?

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