The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (24576)	1/13/2005 2:01:13 PM
From: zebra4o1	Read Replies (1) of 110194

FNM will be the last thing to crack - not a leading indicator. This is a semi-governmental agency. No one will believe that it could possibly be in trouble until the mortgage/real estate industry is littered with bankruptcies. Anyway, that's the way I see it now. When I first started making some housing crash investments two years ago, I bought a lot of FRE puts - a big mistake. These GSEs are heavily armoured. There are lots of softer targets out there. If a crash is coming, I sure hope it comes before January 2006, when my worthless FRE puts expire.

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