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Seattle Bubble Forum Archive • View topic - 51 billion bailout for CFC

51 billion bailout for CFC

How will housing affect the US and world economy? How will the economy affect housing?

Moderators: synthetik, The Tim, Lake Hills Renter

51 billion bailout for CFC

Postby SunTzu » Wed Nov 28, 2007 11:24 am

This is your tax dollars at work.....

http://www.reuters.com/article/economic ... 5620071126
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Postby AwaySooner » Wed Nov 28, 2007 2:05 pm

C, CFC and WM are the top 3 freeloaders. That menas they are in the shitholes. Even Wells Fargo get caught with their hand in the cookie jar. Stock went up today though. I guess rate cut solve all the mortgage and housing problem.
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Postby TJ_98370 » Wed Nov 28, 2007 2:47 pm

"...The California-based lender has put up about $62.4 billion of mortgages as collateral for its $51.1 billion in FHLB borrowing..."

So what's the problem? You couldn't possibly be insinuating that their $62.4 billion of mortgages might not actually be worth that much, not that a declining market would have any influence on things.
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Postby AwaySooner » Wed Nov 28, 2007 3:20 pm

No worries, FHLB said they are "well-positioned"...to take money from taxpayers. Wonder which position? :)

I guess CountryWide has been giving out traditional 80% LTV mortgage the last few years? Is that what the collateral? :roll: Who knows, maybe De-Nile is a river in Atlanta.

http://www.reuters.com/article/bondsNew ... 1020071128
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