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

To: shades who wrote (37623)	8/11/2005 1:34:33 PM
From: Paul Kern	Read Replies (3) \| Respond to of 306849

Yeah, but, Fannie isn't just a hiss. It's possible that: It hasn't made any money. It's going to lose a ton on rising rates. The accountants will never unravel the derivatives. The derivatives are totally illiquid two party paper. The hedge funds that wrote the paper will have folded or will fold if forced to pay up on the swaps. Of the other hand it has big institutional support and funds that mirror the S&P 500 have to hold it until it’s booted from the index. Both the Jan. 06 and 07 puts look good to me. Paul