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

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To: Ilaine who wrote (56865)1/11/2001 11:05:11 AM
From: pater tenebrarum  Read Replies (1) of 436258
 
yes, the bubble is concentrated in California, NYC, and a few other locations. nevertheless, the sharp decline in home equity ownership IN SPITE of generally rising RE prices (whether the price rises are bubble-like or not doesn't matter much w.r.t. this) shows that leverage in the system has steadily increased...you should have seen the FNM chairclown today : "interest rate movements can't hurt us, 'cause we're HEDGED". LOL! they're leveraged 1:154!!!

i'd say there's PLENTY of counterparty risk there.
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