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To: Ilaine who wrote (5626)	7/5/2001 11:18:42 AM
From: smolejv@gmx.net	Respond to of 74559

>>I'm sure there's a catch somewhere.<< I understand Fannie Mae - as one of the biggest and closest-to-our-hearts GSEs - as the best example for a money-generating machine. Forget the FED printhouse. GSEs are the new money printing giants. Which is fine with me, as long as it's not another bubble on the horizon or over our heads. Fact is, from this side of Atlantic it sure looks like one. Another air-borne event - quoting from "the white noise" -. dj

To: Ilaine who wrote (5626)	7/5/2001 8:47:57 PM
From: TobagoJack	Respond to of 74559

Hi CB, <<I'm sure there's a catch somewhere>> ... there is, I figure, and will short the counter if and when it reaches 100, a nice round number. I need to do one trade per year that finances my Christmas present for self and wife, generally something made from stuff dug out of the ground. Such presents makes wife happy, and may come in handy one day under emergency duress. No, such stuff is not in the NAV calculation, as wife insists that the presents are hers. Always the refugee;0) I had mentioned before that there are three bombs in everyone's life and one should bomb-proof as much as possible: government agencies, business partners, and spouse. I am figuring FNM may be the financier this year; or a monster short trade of NEM Puts at $15 strike going out a year. <<Not crony capitalism exactly - these quasi-public quasi-private corporations are not capitalist, not communist, not socialist, not fascist - we need a new word. Fannie Mae can't fail because Uncle Sam guarantees all the mortgages that Fannie buys>> Words like Ponzi, Uncle's wallet, Bank of China, and Printing Press come easily to mind :0) Chugs, Jay

To: Ilaine who wrote (5626)	7/6/2001 5:51:29 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

I read this (the full PDF report accessible via hyperlink) and it covered a few topics concerning real estate lending, total private debt, debt service ratio and the uses of proceeds from refinancing. All subjects discussed on this thread within the past 6 months. Good read ... Message 16024849 csf.colorado.edu "A Home Without Equity Is Just A Rental With Debt" and this dated item is a pretty good read as well ... cato.org THE MOUNTING CASE FOR PRIVATIZING FANNIE MAE AND FREDDIE MAC Chugs, Jay P.S. would appreciate if any one can tell me the link to the FNM report put out by the same company.