Friday, May 31, 2013 1:09:35 AM
This is why FNMA is not recording a PPS closer to it's theoretical book value.
It is the stuff not written into the guidelines of the current conservatorship that is driving FNMA speculators.
For instance, if the Treasury profits an amount equal to what was spent for the bailout, a case can be made that the guidelines of the conservatorship are null and void. Read the last line of the 5th amendment.
Hedge funds started pouring money into Fannie and Freddie; that is what sparked this recent climb, imo. The fall back down is related, imo -- but don't want to make this post too long.
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