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Friday, August 23, 2013 10:54:04 AM
As it stands now, the government is dumping $85B (with a B!) a month into bond-buying, much of those bonds go toward purchasing repackaged mortgage-backed securities from FnF. The QE policy also likely explains the sudden rise in profitability of these companies.
I'm by no means saying that FnF's return to profitability isn't impressive, the profits are outstanding, and their book of business is clearly improving. But I just can't see how anybody could have the lack of foresight to declare solvency at this time. Take that $85B stimulus per month away and then see how they fare... As a long shareholder, I hope very well!
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