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To: Ilaine who wrote (83153)	3/20/2001 10:05:18 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

true, no margin calls with that method...but the losses are just as bad of course...essentially you have asset values on one side of the ledger collapsing, while the liabilities on the other side not only stay right where they are, but seem to continue to increase according to latest data. i agree fully on the ticking time bomb aspect of the government's involvement in the mortgage market. the GSE's have become bloated bubble machines, but there's not much i can add to that debate that hasn't been already better said by Doug Noland.