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Politics : Welcome to Slider's Dugout

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To: SliderOnTheBlack who wrote (8280)	3/8/2008 5:15:05 PM
From: wildandwonderful	Read Replies (1) of 50418

Fall of Carlye Fund is due to it's heavy bet on FNM. Carlye is populated by Secretary of State James Baker and Louis Gerstner and who's who in the political circles. <<The fund raised around $320 million in a July initial public offering and had total equity of $670 million at the end of December. It has leveraged that equity by using short-term loans, or repurchase agreements, to finance a $21.7 billion portfolio of residential-mortgage-backed securities issued by Fannie Mae (FNM:Fannie Mae>> Atleast in FNM trade we are on the side of the big boys.we have to wonder whether they are pushing for a prop job on FNM.Let us wait for the rest of the story.

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