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主题:del -- MRandson

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家园 OECD must have the same

definition across nations for COMPARISON, therefore, I think Fannie/Freddie are not there. State sponsorship of home ownership is an North American idea.

BTW, Canada also has similar arrangement, it is called CMHC. If you combine CMHC's balance sheet with that of Canadian gov., you can conclude that Canada is the most dangerous nation on the earth in terms of sovereign credit risk.

But it does not make sense.

Fannie/Freddie liabilities have not turn sour all(most are prime 30-year fixed). Actually the most recent 10-year treasury note rate collapse (from 4% to 3.4%) will rescue a big chunk of mortgages and relieve the Fannie/Freddie losses.

European crisis turns out to be America's honeymoon. Previously, I am still concerned at the 2010-mid-year pay-option ARM hit, now it seems a non-event.

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