The Next Fannie Mae
The Wall Street Journal wrote an editorial on the dangerous growth at Ginnie Mae on August 11th: “The Next Fannie Mae”. It makes the same points I made the other day in “Ginnie Mae Accounts for 20% of New Mortgages In 2009″.
There is one discrepancy in the two WSJ pieces. The editorial says Ginnie Mae guaranteed $680 billion of mortgage backed securities through July. The other WSJ article said the number was $298 billion through August. Big difference.
More on this topic
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Fannie Mae?
(Buying Value, 7/30/09)
Freddie and Fannie Outside Supervisor Ousted
(naked capitalism, 11/13/09)
No Denying This Reality
(Financial Armageddon, 8/17/09)
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