Replies to post #98410 on Fannie Mae-No Politics (FNMA)

[Chief Slapaho]

In a way, the MMs are sort of like bookies, since if they don't place all of the bets they've collected, they risk a loss if the bets they didn't place paid off, and the bettors whose bets would have paid off will demand to be paid out of proceeds the bookies didn't collect.

[KingDMC]

Good information here