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The business got in trouble with long term mortgage backed securities, not government bonds. "The government did it" is a bad take on this one. It was the busin
by daveguy 4y ago
The business got in trouble with long term mortgage backed securities, not government bonds. "The government did it" is a bad take on this one. It was the business that chose excessive long term illiquid mortgage backed securities vs short to mid term government bonds which would have been a better choice.
- InTheArena 4y agoThis does not appear to be the case with the numbers coming out this morning. It’s really the government bonds that have the dramatic drop in value, relatively. The write down of the government bond assets are significantly higher than the write down of the MBS assets.