Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: Dr. Jeff who wrote (133385)	11/7/2001 8:44:24 PM
From: Haim R. Branisteanu	Read Replies (2) of 436258

Jeff, the problem is that FNM does not hold the mortgages or a very little part of it. It is all securitized. As such the default of those mortgages will mostly affect the MBS holders which are insurance companies and pension funds. BTW most of them are hedged more or less. FNM will get hurt wen mortgages get in default and no one will buy their paper. We are not there yet ......... best see the FINOVA story. quote.yahoo.com The house of cards is there but only lack of confidence in the dollar will drop it. As long as the dollar stays strong the bag holder will just hold the bag. BWDIK Haim

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