To: MEG33
Its worse than that. The smart money believes that these two agencies have been speculating interest-rate derivatives to enhance yields of the mortgage-backed securities that they issue.
If this is the case then that is adding insult injury: the executives of these two quasi-governmental agencies have been speculating using the public's dime and then hiding losses in byzantine financial statments.
It makes Martha Stewart's alleged pecadillos seem mild by comparison.
9 posted on
06/10/2003 11:55:16 PM PDT by
ggekko
To: ggekko
And much more complicated to investigate.
10 posted on
06/11/2003 12:00:42 AM PDT by
MEG33
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