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To: Berk who wrote (43993)	7/1/2002 11:41:03 AM
From: morokko65	Read Replies (2) of 209892

OT: Regarding FNM I have no experience selling short. Buying long term puts is as risky as I get. FNM is government sponsored and any administration will move heaven & earth to keep it rolling. That doesn't mean it can't go down in a big way. They are exposed to a significant risk if rates & deliquencies move up. see my earlier link to the contrary investor site. Prudent Bear's Noland has also written extensively on the risks facing the credit bubble & GSEs

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