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To: yard_man who wrote (218309)	2/3/2003 9:10:46 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

tippet, They spend a lot of time pointing to the growth of financial sector debt (asset backed based like mortgages - FNMA, FRE, etc..) But that debt is directly related to the mortgages. So while I am also highly skeptical of home prices and the leverage in homes etc.. (like the Prudent Bear is), I think we should primarily focus on the mortgage debt and not on the debt used to securitize and then sell the mortgages. There's a double count.