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Politics : View from the Center and Left
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To: epicure who wrote (82656)9/7/2008 11:00:22 AM
From: Dale Baker  Read Replies (3) of 541684
 
The FNM and FRE common stock investors will get toasted. The intervention is solely to shore up all the mortgage bonds they sold around the world, and probably prop up the preferred stock that many US banks hold chunks of.

This is all about forestalling another possible domino-like string of confidence failures.
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