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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (3341)	7/11/2002 12:44:44 AM
From: patron_anejo_por_favor	Respond to of 306849

<<So why are they bothering to call him up? Is there talk circulating about Fanny and Freddy?>> There's been a lot of rumbling both by politicians (generally Republican) and the press regarding increasing risks of the "implicit guarantee" the government has on Fannie's debt (which is enormous). The Fed has also voiced concern on occassion (though not in the last few months) that the GSE's pose potential risk due to their leverage and concentration of ownership in certain debt markets (particularly SWAPS). Commercial banks generally aren't thrilled with Fannie either, as they've used their size and clout to muscle out market share of the mortgage lending biz. So lots of people are concerned, oversight (ie, OFHEO) is undermanned, underfinanced and generally perceived as ineffective. In a nutshell, lots of folks are worried, so Congress needs to appear to be doing something. If things really hit the fan, they will try to use these sort of hearings as cover for their own (Congress') negligence, IMO.

To: Jim McMannis who wrote (3341)	7/11/2002 1:01:32 AM
From: The Duke of URL©	Read Replies (1) \| Respond to of 306849

Jeesssssssh, Jim!!! Fannie and Freddie ARE NOT REQUIRED TO FILE A 10k!!!!!!!!!!!!!!!!!!!! They CLAIM that they disclose the info anyway. Let me tell you as an EXPERT in the area, THEY DO NOT. They could be calling this guy to put on a dog and pony show as to why not, to cover the ass of the present administration and the congress, or because they are just curious and have nothing to do next thursday. Or maybe they can call Paul O'Neil to describe how right the administration is and we can put all The Corporate Evil Doers in jail for following the law, except, of course, any one in the current administration or current members of congress or anyone from the Great State of Florida who by convenient constitutional interpretation cannot be a person of corporate evil doer descent.