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To: reaper who wrote (217875)1/30/2003 8:57:42 PM
From: Win-Lose-Draw  Read Replies (1) | Respond to of 436258
 
it was in an email. do they have a ticker i can short? -bg-



To: reaper who wrote (217875)1/30/2003 10:53:21 PM
From: Perspective  Respond to of 436258
 
These rocket scientists have been doing it for a long time now. It's an 80% conforming loan plus a 20% home equity or some other combination. They hand off the 80% to the Fannie, and securitize the remainder to some patsy. It's the financial perpetual motion machine, haven't you heard?

Of course the risk of loss doesn't matter, since real estate prices only go up. <sg>

BC


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