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Archive for December 2013
July 15, 2008
The U.S. government has made it clear that Fannie Mae and Freddie Mac, the two big mortgage guarantors, are not going to run out of cash. Yet the stocks of both are still tumbling; what is going on?
March 24, 2008
There have been reports in the press that the Federal Reserve has been meeting with the U.K. and European central banks to discuss a novel idea: direct purchases of mortgage securities by these central banks to “set a floor” under their prices. This is an appalling idea, and here's why.
January 28, 2008
The most recent subject to provoke shivers of anxiety is the rise of sovereign wealth funds, notably the investment by a number of them during the past two months of nearly $20 billion in some leading U.S. financial institutions.