Comments on: smell test: FHooFA does Primum Non Nocera

By: Coffee

Coffee — Mon, 13 Oct 2008 01:18:59 +0000

Actions to destroy the dollar have immediate consequences. Long bond down 1.000 on the opening. The amount of bonds outstanding makes the securities market a minutia.

Ask yourself what will happen to the RE market with Mortgage rates at 8%…? Non conforming paper up to 9.5% already.

anti spam word: Dumb

By: John M.

John M. — Sun, 12 Oct 2008 19:34:48 +0000

MarketWatch has basically a repeat of the Bloomberg article (long comment thread attached).

“Fannie, Freddie to buy a lot more mortgages – report: Finance giants reportedly ordered to buy $40 bln of mortgage bonds a month”, MarketWatch, October 11, 2008.

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and Fox

“The Other Mortgage Market Bailout”, by Brian Sullivan, Fox, October 12, 2008.

By: Coffee

Coffee — Sun, 12 Oct 2008 02:24:48 +0000

… if this is the new plan, the next wave will be more destructive than the current wave of destruction. Who at FNM and FHLC would make such a directive without Paulsons directive?

This will destroy the US dollar 5 years out and mortgage rates will soar today.