Reply #7: Good video, found it the other day, see the article written in 2000 [View All]

[slipslidingaway]

particulary this line...guess the safety net is the taxpayer.

"...You know all of this. Nothing here is new. The agreement between Fannie, Freddie and Baker may take the issue of GSE driven systemic risk off the political table for the next year or two, but it does nothing to change the real risk in the real financial markets. God help us if the illiquidity spreading like a cancer in the current fixed income markets ever blossoms in full force. Of course the ultimate safety net can be found right on your IRS Form 1040."


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4055053&mesg_id=4055053