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As Fannie and Fredie bite the dust, the 2 main thrusters at the center of the credit centrifuge slow down.

What is the impact on the peripheral players? ( RDN, PMI, MTG, MBI, ABK, COF etc). Any thoughts?

As FNM took a few days to connect the dots these will too

Anyone buying anything remotely connected with the BKX checked their brains at the door long ago.

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The Merck decline is taking 86 points out of the Dow. Absent Merck, the DJIA is about flat.

 

Fannie and Freddie aren't in the Dow, though. That's where the foundation is cracking.

 

If I know Mad Al Leeson, though, he'll monetize as much agency debt as it takes to keep his "Federal Reserve/LTCM Hedge Fund" afloat.

 

"Long Term Credit Management" is Al's JOB DESCRIPTION, you know ... <_<

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