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Alias Born | 11/17/2009 |
Saturday, April 29, 2017 9:49:46 AM
The situation is what it is, regardless if we believe it's right or not. 4 years and the courts have done essentially nothing in our favor. We're running out of time. A 15% tax cut will absolutely put these companies in jeopardy of recievership. That's just a fact that can't be wished away.
Without the current DTA recorded on the books, positive equity would not exist. Because of poor investing choices in previous years through derivatives, Fannie Mae eroded much of its cash. That wasn't the government's fault. That was poor management decisions. When your job is to make sure the U.S. housing market is safe and secure, you don't engaged in derivatives transactions. It's just stupid.
Like it or not, old man Warren Buffett is right, and derivatives was the exact reason he sold his position.
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