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Pastimes : All Clowns Must Be Destroyed
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To: pater tenebrarum who wrote (32983)5/15/2000 2:29:00 PM
From: KyrosL  Read Replies (1) of 42523
 
Heinz,

my post was a response to a post that claimed that the credit expansion at Fannie and Freddie is no different than an expansion of Federal debt. It clearly is different. Fannie's and Freddie's mortgages are repackaged and sold around the world to investors whose financial health is not very important for the US. Even if the Federal government decides to help out, in case of an extreme financial disaster, the net liability to US tax payers will be far smaller than the liability implied in the quoted article.

Finally, we should not forget that the Mexican "bailout" cost nothing to US taxpayers -- in fact, US taxpayers made some money out of it. And a good chuck of the S&L losses WAS federally insured.
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