Fannie Mae-No Politics (FNMA)

[Donotunderstand]

There was some sort of conference - one day - to settle the counter party CDS swaps

Every company - I mean every bank and brokerage and insurance company had notable but minor exposure because they wrote and bought a near even amount of bullish and bearish paper. So while the amount of CDS exposure was HUGE the NET exposure was manageable

AIG was 100% long paper that turned to dust

Arrogant stupidity