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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: clochard who wrote (174667)6/23/2002 5:05:00 AM
From: LLCF  Read Replies (2) of 436258
 
<And when the doodoo hits the fan, its bonds will drop in value, allowing FNM to buy them back at a discount, thus removing their only liability simply and cleanly. >

And how is that different that any other company???? More likely the FED will be buying them! So it doesn't 'collapse', but where would the stock be at that point... $10?

BTW:

<IMHO FNM is different than most. It can "lose" money when people default, but at the same time the defaulted property remains a real asset, unlike the "assets" of the likes of Worldcom.>

You mean property is better than equipment?? I'll give you that, but in a depression you think they will be able to sell it???

DAK
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