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The Company offers a range of credit and non-credit products and services directly and through Canadian and non-Canadian subsidiaries, offices and branches.
The company has to fess up their bad paper if any. And as Fannie Mae and Freddie Mac, who had minimal exposure to subprine, the problem is prime too. They already have anegative numbers coming ing. They made 1.17EPS last year partly because they were lending like crazy.As far as conservative, Fannie and freddie backed loans were conservative, and look at them.
I don't know where you got the facts to back up your Freddie & Fannie "quality" of exposure.Let us say,for discussion purposes,that Fannie & Freddie "backed into" a dreadful portfolioas our economic decline led to firings,layoffs, one income....not two etc,etc. and the illquidityof our residential real estate market. So Fredddie and Fannie are simply a victim of our times.Now look at a typical Canadian Bank standard for loans:1.25 % down.2.15 year payout.And with tougher % of residential loans considered prudentI will buy the certain Canadian Banks all day and sleep well.
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