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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: MSI who wrote (15392)2/22/2002 2:25:33 AM
From: Raymond Duray  Respond to of 74559
 
Re: The GSEs traditionally have issued debt to fulfill their mission to provide liquidity for home mortgage originations. Since 1993, however, the GSEs have been issuing more and more debt for non-liquidity purposes. This additional debt has not been used to provide liquidity to lenders, but has been used primarily to repurchase their own mortgage-backed securities.

In other words, this toxic waste can't find a sucker in the private sector.

fmwatch.org