I missed the Staff meeting, but the Memos showed that cavelamb himself
wrote on Tue, 15 Jul 2008 07:53:48 -0500 in
rec.crafts.metalworking :
azotic wrote:
It appears the american taxpayer will subsidize the risks taken by
sophisticated investors.

http://www.reuters.com/article/press...008+BW20080711

Since we have a free market Freddie Mac and Fannie Mae should be allowed to
go broke.
New entities will arrise to fill the vacume left by Freddie Mac and Fannie
Mae in the mortgage
market.


Best Regards
Tom.

That's because _you_ have no money invested there...

I suspect he has no money invested in stocks, or real estate. Or
any idea what secondary financial markets are, and why they are
important.

I suspect that he also has no idea what Fred & Fannie actually do.

Which is understandable, I knew a woman who didn't understand that
the 5% mortgage interest was an ongoing "rental" expense for the
balance of the mortgage, not a one time "charge".

--
pyotr filipivich
"I had just been through hell and must have looked like death warmed
over walking into the saloon, because when I asked the bartender
whether they served zombies he said, ‘Sure, what'll you have?'"
from I Hear America Swinging by Peter DeVries