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TMFAleph1 (96.59)

Revealed: The $145 Billion Hole No One Noticed

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May 11, 2010 – Comments (3) | RELATED TICKERS: FNMA , AIG , FMCC

My thoughts on this curious phenomenon. I welcome all constructive, informed feedback.

Alex Dumortier

3 Comments – Post Your Own

#1) On May 11, 2010 at 5:04 PM, 4everlost (29.76) wrote:

I agree with everything you mentioned.  I would add that a speculator may buy FNM's stock because there is a huge backstop.  The government won't ever let them go down the tubes - it would be an embarrasing admission of ill-constructed policies.

Of course, the backstop doesn't mean the shares might never become worthless.  They could play it like they played the GM deal - shareholders - screwed - bondholders - screwed.  

Rec #5

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#2) On May 11, 2010 at 6:57 PM, ChrisGraley (29.86) wrote:

That one, I happened to notice. ;)

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#3) On May 11, 2010 at 11:08 PM, TMFAleph1 (96.59) wrote:

Chris,

Nice to know someone's paying attention ;-)

Alex D

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