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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (373714)9/5/2008 7:12:20 PM
From: NucTrader1 Recommendation  Read Replies (1) of 436258
 
From what I read? FNM and FRE needed to raise 233 billion by the end of the quarter (30 Sept) to service notes which were coming due - 83% of which were short term. Now FNM and FRE sell in weekly auctions. What the crooks and liars on Wall Street put out per media is headlines such as: "FRE sells 4 billion in notes with good demand" and crap like that. Do some basic math. You're selling 3-6 billion a week in new debt and you have to raise 233 billion by Sept. 30. Maybe there's something I'm missing here, but way I see it, they're going to have a massive default sometime in the next 3 weeks...but NOT TO FEAR. Hank has a plan. Unload it on the back of the American taxpayer.
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