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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Smiling Bob who wrote (100797)1/18/2008 6:27:04 PM
From: Jim McMannisRead Replies (1) of 306849
 
Cramer is actually making some sense? He said that unless the mortgage insurers are taken over by the government and guarantee 50 cents on the dollar, all the rate cuts won't help and the DOW will fall another 2000 points.

Says the mortgage insurers are insuring about $500 billion in mortgages. Says about half are gonna default anyway.
Doesn't sound like he likes ABK and MBI. Says Buffets in with the government to help.
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