I don't know much about the mortgage market, but... http://www.fanniemae.com/kb/index?page=home&c=aboutus
OK its semantics, you were talking about investors of CMOs, as far as securities market for CMOs and such, freddie is in the primary issuer market which you would call secondary mortgage market. For most people on the street, primary usually means dealers that markets and issues securities.
Dude...seriously, try to gain some semblance of a clue before you post. Start by taking a deep breath each time you get all hot and bothered by the word "government," regardless of context. Deep breath... OK, so if I insure a mortgage loan for any amount, even a penny, it can be said I am "backing" that loan. If you turn around and sell bonds totaling, say, $1,000,000 that pay a return, based on the income generated by that loan, who do you think will be higher up **** creek if the borrower defaults on her/his obligation: you, me, or the suckers who bought the bonds?
No, for structured products, I consider issuance by the primary dealers the primary market, once they have been issued and sold to initial investors, then they are traded on the secondary market. You are talking about primary and secondary mortgage markets. Like I said, we are arguing semantics. No I don't physically work in NY, but I do work with company on the issuance side.
Anyone read this bill? I see a 6 page outline on the whitehouse website but the president just held up about a 200 page text book saying it was the jobs bill. Im tired of people's opinions based on the rhetoric, I'd like to read more specifics on the revenue to pay for it. Is the entire bill posted somewhere?
Well working on Wall Street is a figure of speech - if you work for an ibank even if it is in a satellite city - it's considered wall street, but I accept you work in the industry...although some of the things you write are a bit strange. Maybe it's because it's been about 15 years since I was there and a lot has changed. Anyway, interesting discussion.
The rampant printing of money to fund the war combined with the growing debt certainly factored into the devaluation of our currency.
devaluation is something we've been trying to achieve since it actually lowers our debt substantially and makes exports more appealing to both domestic and international audiences.
^^ If anything, the mere fact that months ago, politicians were clamouring for China to appreciate it's currency, which is exactly the same as USD devaluing against the RMB. So your politicians have actually wanted a devalued USD against the RMB for quite a long time. The reason why the US cannot voluntarily devalue its currency is because the USD is still such a safe haven for investors. Heck, after the S&P downgrade, the Treasury still sold off 10 year bonds at a record low yield, because investors were scared of the Eurozone and dumped their money into the safest assets in the world, US T-Bills. http://www.marketwatch.com/story/treasurys-mostly-extend-rally-push-new-lows-2011-08-10
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The name of this thread will need to be changed GOP rep swipes name of Obama's new bill before Democrats introduce it to Congress how about the SCOAMF Bill
Sorry if this has been posted. I'm not up to date on the thread. I found this article an interesting assessment of where the jobs bill goes from here. I especially liked the last paragraph quoted here. And I wish Obama would do it. http://www.huffingtonpost.com/2011/09/14/american-jobs-act_n_963012.html
As if people assign credit/blame were Obama(or anyone else) tells them. People assign credit/blame were they think it goes.
