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Popular Threads

The XBroker: The Fannie Mae and Freddie Mac Poker Game

REALonomics · 1 year ago

Here's what I like to try to wrap my mind around. Fannie Mae and Freddie Mac are traded securities whose solvency is essentially guaranteed by the Fed. RU with me thus far?

Wrap this. We now have the Fed saying we are going to guarantee what we already guarantee. The mortgage industry was already an illusion, but this brings a whole new meaning to pulling proverbial rabbits out of hats, sawing scantily clad babes in half and elevating elephants.

The drama is just beginning!

REALonomics
www.REALonomics.net