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Oh, hey, I hadn't looked in detail at how residential paper works these days, but I think you may be on the mark here. I can't speak to the deep-state stuff, bu
by throwanem 6y ago
Oh, hey, I hadn't looked in detail at how residential paper works these days, but I think you may be on the mark here. I can't speak to the deep-state stuff, but in terms of mortgages, "qualified" and "non-qualified" appear to mean substantially what you say they mean.
I'm sure that can't possibly go wrong. Especially since the entire SERP when I looked up the "non-prime" term you used was pages put up by fly-by-nights to reassure the suckers that there's nothing wrong with the paper and if anyone tries to tell you otherwise, you should probably punch them in the face.
- samcodes 6y ago"deep state" meaning... information you didn't know already?
- throwanem 6y agoMeaning the whole "power struggle between branches of government" claim, which I referenced in a deliberately dismissive way because I really don't want to get into it. I'm more interested in trying to figure out how the Fed potentially buying up toxic securities via FOMC, instead of letting them blow up on their own, might affect the outcome this time.