sometime in late 2009 … Hi Ed, further our late night conversation at the Ruritanian Embassy’s diplomatic reception, attached please find the $4.4 trillion in mortgage pools you said that Fannie and Freddie were cool with taking on. Cheers, Ben — P.S. hope your hangover wasn’t as bad as mine 😉
I don’t think I’ve had so much fun since The Great Canadian 4/8 ’96 Easter Egg Hunt. Who needs Repo 105 when you can just lose a third of America’s housing finance paper in the interdepartmental mail system?
Over the weekend twist and I were puzzling over an apparent anomaly in a chart ZeroHedge put up. Then twist dug up a Bruce Krasting post from a couple of months ago that seems to shed some light on the subject. Now I’ve got this vivid picture of a forgotten plain brown envelope wedged in back of the radiator beside one of those plastic seats at a DC donut shop half way between two balance sheets.
Anyway, we sent our ace investigator Igor to Washington yesterday to put the heat on one of our less reliable sources (veteran Doomers will recall that Igor is the Castle’s pet dragon). This is what he came up with:
… Yeah, about that time one of the other couriers had a weird experience. He remembers waking up in what seemed to be an Opus Dei safe house in Silver Springs. Just before he escaped with his bike out a window he managed to catch a bit of conversation from the next room about the thirteenth clue being the painted-over graffiti on the east facing side of a mailbox located at the tip of the shadow of some 555 foot high obelisk at the moment of the (inaudible–1666?) autumnal equinox, and that they were trying to suppress Dan Brown’s latest manuscript.