Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

Godfrey...

FRE is a nest of cockroaches that is serious - you don't just fire top people in the midst of an audit for no reason. Unless a strong cover-up goes into effect (very possible) it could cause a lot of trouble in the financial sector, including starting some derivatives fallout that could be serious. It could also effect FNM, MBI among others. For that reason, a hush-hush whitewash job will probably be in place and the Fed will quietly bail everyone out if possible. If not, we could see some fireworks.

mlsoft