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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (69417)	10/22/1999 12:20:00 PM
From: pater tenebrarum	Read Replies (2) of 132070

MB, i don't know if you've read Tice's piece about the huge interest rate hedges put on by Freddie and Fannie...now somebody must have taken the other side of these trades, and according to Tice should be about $20 billion underwater by now due to the rise in rates. so how come none of this showed up in the banks and brokers earnings reports? have they successfully hedged the risk with third parties or are they concealing something in the hope that rates will turn around? do you have any idea as to what's happening here? regards, hb

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