Friday, February 29, 2008

where's our sovereign fund?

what if we had a sovereign fund that invested in mbi and abk and got rid of the whole muni bond problem? if the fed were to cut to 2% quickly enough to get people to refi -- rates are already too high and the margin call to tma the other day signaled that we need more rate relief immediately because we waited so long -- and the sovereign fund backed fha-made loans, don't you think our sovereign fund would make a fortune even as rates trended higher later? i probably hate government interference in markets more than most people, but these are special - and not in a good way - times. we're just begging for more foreign interference in our markets. is that really what we want to happen?

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