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That big pop is what happens when a hyper-concentrated fund has a holding which spikes up 35%.
It appears that Bruce's lawsuit to free up Fannie and Freddie may turn out well. It looks like our esteemed Congress knew that the two were solvent and in no trouble when they decided to abscond with their profits.
And that is the first time I've ever used "abscond" in a sentence on the intertubes.
This whole issue related to the GSE's has been frustrating, so much so that I even communicated with my Senator, Sherrod Brown who's the ranking member on the Senate Banking Committee. My sizable FAIRX position may have had just a bit of motivation there.
Fannie Mae and Freddie Mac were used as scapegoats to absolve the real culprits of the mortgage-backed security crisis of 2008, and their profits illegally funneled to the treasury coffers and at the same time shielding the banks. This scheme is unraveling, the only question being whether it will see the light of day.
Also, if your interested in more details, the last 2 articles by Glen Bradford on Seeking Alpha under the FNMA ticker are superb and highly recommended.
Comments
Regards,
Ted
It appears that Bruce's lawsuit to free up Fannie and Freddie may turn out well. It looks like our esteemed Congress knew that the two were solvent and in no trouble when they decided to abscond with their profits.
And that is the first time I've ever used "abscond" in a sentence on the intertubes.
Fannie Mae and Freddie Mac were used as scapegoats to absolve the real culprits of the mortgage-backed security crisis of 2008, and their profits illegally funneled to the treasury coffers and at the same time shielding the banks. This scheme is unraveling, the only question being whether it will see the light of day.
From the NYTs:
http://www.nytimes.com/2016/04/13/business/fannie-mae-suit-bailout.html?smid=tw-share&_r=1
Also, if your interested in more details, the last 2 articles by Glen Bradford on Seeking Alpha under the FNMA ticker are superb and highly recommended.
But sorry, expatsp ....I can't help with Sears.
http://news.morningstar.com/all/ViewNews.aspx?article=/MW/TDJNMW20160412449_univ.xml