Fannie Mae (FNMA)

[dubbya]

Fiction? Michael Burry dug deep into these packaged mortgages and found crap paper so he bought CDS's. Where's the fiction?

"..He recently dumped his banking shares:
Now, Burry is putting his money where his mouth is.

According to a report from Yahoo Finance, Burry’s hedge fund, Scion Asset Management, completely dumped its position on several of the big banks during the first quarter.

The Yahoo Finance report stated that Scion bailed on Bank of America, Citigroup, and Bank of New York Mellon in the first quarter.

Time will tell if Burry’s bet is proven right again, but if he’s dumping out of the big banks, maybe it’s because he knows something we don’t.

And that’s never happened before."

http://www.housingwire.com/articles/37049