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

To: biometricgngboy who wrote (18591)	3/14/2004 9:50:06 AM
From: biometricgngboy	Respond to of 306849

Yesterday’ weeds are today being priced as flowers - Warren Buffett. excerpt: Why is it that nearly everyone who matters is warning on the GSE’, are they preparing us for something? From the Fed Chairman Mr. Greenspan to Treasury Secretary Snow everyone has been explicit in saying that there is no government backing to GSE’. The FT of London reported that Fannie Mae paid a net of $2bln on derivatives transactions in around 4yrs with nearly all of which may represent losses that cannot be recouped. The size of the liability raises fresh doubts about the GSE’. The two GSE’ own mortgages totalling $4trln between them. Treasury Secretary John Snow again repeated previous warning that the GSE’ are not financially backed by the US government. He added that ‘we do not believe in the too big to fail doctrine, but the reality is the market treats the paper as if the government is backing it. We strongly resist this notion.’ The Washington Post reported that people were camping 3-4days in advance of new homes due to be released by the contractors. If this isn’t a sign of the great real estate bubble then I don’t know what it is. fxstreet.com