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As an outsider this reads like someone in 2006 saying that these risky looking mortgage based products are fine because they'll be propped up by Fannie Mae and
by jandrese 4y ago
As an outsider this reads like someone in 2006 saying that these risky looking mortgage based products are fine because they'll be propped up by Fannie Mae and Freddie Mac.
- dboreham 4y agoAnd they were pretty much correct. So probably not the same as that.
- ceejayoz 4y agoWe had an international financial crisis over it. That seems less than fine.
- jandrese 4y agoThey certainly weren't correct for the people who bought those Mortgage Backed Securities. Unless you were a huge institutional investor with the inside track you got skinned alive. Even the big boys got burned pretty badly. Lehman Brothers was the fourth largest investment bank at the start of 2008.