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Politics : High Tolerance Plasticity
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To: Think4Yourself who wrote (4244)5/7/2001 3:37:02 PM
From: energyplay   of 23153
 
Mortgage exposure to Silicon Valley-

Too many of these mortgages get packaged and sold by the originating bank to Fannie Mae , limiting the banks' downside.

Also, too many Silicon Valley properties have mortgages of 150 -200 k and current vlaues of 450-600k
Foreclosing is much less of a risk.

Credit cards - article in Forbes about 2 weeks ago on PVN & BankOne and other credit card people.
Lots of exposure there.
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