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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (144377)	1/17/2002 2:14:00 PM
From: reaper	Read Replies (2) \| Respond to of 436258

<<Do you see FNM as a sort of higher-class version of PVN?>> Lower-class, actually, given their irresponsible leverage, anti-competitive business practices, feeding at the public trough (FNM & FRE "earnings" are for all practical purposes a transfer of wealth from taxpayers to their shareholders, under-written by the Feds), and their propagation of the myth that you "own" your house when you have a mortgage against it for 95% of its (inflated) value. The existence of FNM and FRE are going to RUIN people financially when they can't make their house payments; equity built up over decades will vanish. PVN was just a little spec on the ass of an elephant that didn't hurt anybody except their stupid shareholders. FNM & FRE will both be sub-$10 when this is over and Warren Buffett will be using his vast personal wealth to shore up their balance sheets. Cheers