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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (414743)	9/6/2008 4:33:01 PM
From: michael97123	Read Replies (1) \| Respond to of 1575354

This may cause a rally with legs. Fannie and Freddie had stopped buying mortgages because they were broke. With shareholders now wiped out, f&f are likely to be broken up into two new companies---good fannie and bad fannie. Good fannie will hold all the high performing loans and be able to buy up new mortgages now with explicit federal guarantee. Bad fannie will take the bad debt at 20 cents on the dollar and manage it to get what its really worth which will be much higher. By the way this will call the taxpayers 75 billion. Someone should sue franklin raines and get back his 162 mm severance. The leaders of fannie and freddie are like the keating five expect in this case they are dems. Fannie was set up to restore housing in the depression and it fails today because its cool liberal mgt thought they could manage a hedgefund. Its really iron how things happen in the US.