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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: bond_bubble who wrote (36277)7/18/2005 6:32:57 PM
From: Jim Fleming  Read Replies (1) | Respond to of 110194
 
re GSE mortgage backed securities

GSE securities are not backed by a U.S. guarantee and there is no such thing as a moral obligation to do any thing about a problem. They probably would do everything possible to avoid a panic and collapse in that market but if they have to let it go it would not be a default.

Jim