Comments on: Guest Post: The Collapse Of The Non-Backstopped Agency Market http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html Sun, 22 Nov 2009 14:06:54 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: jessi_composed http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html#comment-49721 jessi_composed Tue, 30 Jun 2009 19:35:04 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-the-collapse-of-the-non-backstopped-agency-market/#comment-49721 Newest today is that housing has hit bottom. I'm just not sure I'm on board with that. yeah maybe metro areas, but not the majority of Americans...confidence is at a low, so how are they expected to buy houses?<br />Let me know what you think:<br /><a rel="nofollow">http://tinyurl.com/kvqyww</a> Newest today is that housing has hit bottom. I'm just not sure I'm on board with that. yeah maybe metro areas, but not the majority of Americans…confidence is at a low, so how are they expected to buy houses?
Let me know what you think:
http://tinyurl.com/kvqyww

]]> By: frances snoot http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html#comment-49636 frances snoot Sun, 28 Jun 2009 20:08:01 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-the-collapse-of-the-non-backstopped-agency-market/#comment-49636 Thanks, Hugh. Wish we had the link. Thanks, Hugh. Wish we had the link.

]]> By: Hugh http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html#comment-49633 Hugh Sun, 28 Jun 2009 18:58:14 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-the-collapse-of-the-non-backstopped-agency-market/#comment-49633 "The implications are that somebody will most likely be left holding the bag (mostly not the FED)"<br /><br />I can't give you a link at the moment but I have read where losses in Fed programs are to be transferred to Treasury,i.e US taxpayers. "The implications are that somebody will most likely be left holding the bag (mostly not the FED)"

I can't give you a link at the moment but I have read where losses in Fed programs are to be transferred to Treasury,i.e US taxpayers.

]]> By: Brick http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html#comment-49612 Brick Sun, 28 Jun 2009 11:35:24 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-the-collapse-of-the-non-backstopped-agency-market/#comment-49612 I was a bit surprised that Freddie had a whole load of Fannie MBS in its portfolio which I think would increase systemic risk. It is also interesting to note the REMIC structure and what happens if house prices continue to fall. The other question must be what are institutional investors not buying so that they can buy this stuff. The implications are that somebody will most likely be left holding the bag (mostly not the FED) and the yield on the AAA tranches of the REMIC could fall leaving the FED as the only buyer. I was a bit surprised that Freddie had a whole load of Fannie MBS in its portfolio which I think would increase systemic risk. It is also interesting to note the REMIC structure and what happens if house prices continue to fall. The other question must be what are institutional investors not buying so that they can buy this stuff. The implications are that somebody will most likely be left holding the bag (mostly not the FED) and the yield on the AAA tranches of the REMIC could fall leaving the FED as the only buyer.

]]> By: Richard Kline http://www.nakedcapitalism.com/2009/06/guest-post-collapse-of-non-backstopped.html#comment-49609 Richard Kline Sun, 28 Jun 2009 06:30:59 +0000 http://www.nakedcapitalism.com/2009/06/guest-post-the-collapse-of-the-non-backstopped-agency-market/#comment-49609 Tyler, would you do a temporal breakdown of those MBS purchases by the Fed? Has their purchasing accelerated this year? When was most of this inventory bought. The plan, always, by the zombie banks was to get someone to buy up their ABS crap, most especialy MBS nuke waste at near face. Or did I misread you and the large part of this MBS 'inventory' is actually swap-stuff which, in principle, the banks are supposed to repurchase whe they are, y'know, financially sound again? (Like never.) Give us a bit more on this, please. Tyler, would you do a temporal breakdown of those MBS purchases by the Fed? Has their purchasing accelerated this year? When was most of this inventory bought. The plan, always, by the zombie banks was to get someone to buy up their ABS crap, most especialy MBS nuke waste at near face. Or did I misread you and the large part of this MBS 'inventory' is actually swap-stuff which, in principle, the banks are supposed to repurchase whe they are, y'know, financially sound again? (Like never.) Give us a bit more on this, please.

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