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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: XBrit who wrote (50196)12/21/2000 7:12:08 AM
From: pater tenebrarum  Read Replies (1) of 436258
 
thanks...this jibes with the fact that the GSE's have expanded their already incredibly bloated balance sheets by a staggering 20% in Q3 alone...with banks selling their mortgages to them at blinding speed. the RE bubble fueled by these organizations is an extremely unhealthy development for the economy...people will in the end lose their homes to the banksters, and the tax payer will be asked to foot the bill once the GSE's get into trouble. leveraged 1:154, worse than LTCM...and they have blocked any moves to curtail their power by buying off politicians in Wash., which has led to agency spreads narrowing sharply, giving fresh impetus to the RE bubble they have created. prices rising by 23,4% year-over-year attract speculative funds, as those are always drawn toward inflation...once this bubble collapses too, collateral values for a lot of debt will disappear, as happened in Japan 10 years ago.
the GSE's were founded to make housing more affordable - yeah right. it's more affordable now, lol.
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