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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12545)	9/30/2004 10:16:55 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

FNM may have accounting problems but it is a quite well run institution and a "to big to fail" entity. I suspect that it will be a slow slide in the lower levels as to many institution hold the shares and no one wants to upset the MBS market which is much bigger than the US treasury markets. US RE is valued at around $16 + billion --- at around 68% + financing rate, the mortgage market is about $11 billion or US GDP MRK news are interesting this company may be in substantial danger of chapter 11 due to various trial lawyers who will take a huge bite from the company equity for themselves. If MRK are smart they would voluntary arrive to an agreement with those that got hurt by the drug