EPAR

"private-label issuers were pushed to the sub-prime margins of the mortgage business because there was no way they could compete with the GSEs in the prime market"
U OUTLINE THE WALL STREET WHY
OF THE PRESENT PRETEXTUAL CASTRATION OF MACMAY

THE CRISIS NOW

the two are taking over the entire house mortgage biz
so
the pri sec cries wolf here
when they cry uncle
thy mean for the gub backed outfits
to surrender not themselves

the two ain't fragile
the f's are in fact just the opposite
too sound
okay gse or soe
makes no mind
key question
what class interest controls the top policy spots
in either or both of the two F's

the prevailing posse of outside policy "guiders"
determines whether the two become
garbage cans again
or
commonwealth generators

if its wally world that gives them their marching orders
then private to public risk transfer
and the inside looting of outside little folks nest eggs
will reach jamboree proportions once again ...
eventually if not sooner

if the hi fi corporate raiders and professional bilkemen
take the lead
both private looters profits
and public trash cans
will symbioticate again

now f and f are purported to have become
7 trillion dollar containers
with an in mix of 300 billion in worhless trash

not realy that bad

but here's the rub
the guys who made em trash cans
with heroic impudence
now want to castrate em
before they can morph into
commonwealth generating
reformed prudentiary institutions

hell if that happens
they might become ....

why if we the weebles
got our agents into the drivers seats....

if wally world
get's its way

in the future
as it has these past 40 years
--and with increasing audacity--
a reconditioned
-- street zombee --
f and f
will morph even further into
freddie " big dumb sucker" mac
and
fanny "pass me your frauds please " may

its the pri caps hegemony
down in the fed district
that led to this present
300 bill scare story

diversion dispersion reversion conversion

its all a meaningless card shuffle
a vamp a rear guard action
to cover wally's flight
from the crime scene

unless uncle's foolish policy spawn
--his gse hi fi kids---
get under the firm intelligent
non rube
control of job class agents
de ja vu will ride again