patrick.net

Hmmm, good info from several in here. Nothing on mortgage tranches. Would be nice to hear from someone who knows if CMO's are trading. Obviously they are since our mortgages are immediately being sold to F/F/G. The whole trick was to stuff a tranche full of crapola and relabel it as A+ or whatever. So, if they are selling and FED or whomever is buying then who really cares if they will really pay. You see, it doesn't matter to the FED because they can just print more money. I think people on this list tend to loose sight of the overall system and what matters. Some Joe Conartist strategically defaulting doesn't break the buck when the FED/banks can eat the mortgage payment and pretend its still a fine investment. FED has "Total assets in the March 16 week came in at $2.587 trillion. " -- http://www.totalmortgage.com/blog/mortgage-rates/federal-reserve-may-resume-asset-purchases/5377
How many are mortgages? how many are not being paid? how abuot F/F/G? Are they actually expecting their mortgages to be paid? Who's the sly fox: the worker who saves and pays for his house or the conartist who takes advantage of these free money programs?
At least one Congressman on the Housing committee filed for bankruptcy himself:
http://www.cincinnatiohiobankruptcyattorney.com/2011/02/congressman-files-for-personal-bankruptcy.shtml

FED position info:
http://www.infiniteunknown.net/2011/02/28/federal-reserve-owns-37-percent-more-treasurys-than-china-balance-sheet-update/
1.2T MBS, ~2T treasuries. Same pump.
1.2T/50M houses with mortgages (I guess) => $24k. Or, at $200K home value, 6M houses. That is a LOT.