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View Poll Results: Good idea for a government-owned bond insurer?

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  • Yes

    0 0%
  • No

    4 100.00%
  • Not sure

    0 0%
  • Don't care

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Thread: Federal Reserve working paper recommends a new bond insurer be formed

  1. #1
    Actuary.com - Level III Poster Claude Penland's Avatar
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    Jul 2010
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    Federal Reserve working paper recommends a new bond insurer be formed

    The new bond insurer would act much like Fannie Mae does in the mortgage market.

    It would guarantee selected ABS for a premium, which would be invested and used to pay out any losses.

  2. #2
    Actuary.com - Level III Poster Claude Penland's Avatar
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    Jul 2010
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    Typo in poll. "owed" = "owned".

  3. #3
    You spam? I ban! Irish Blues's Avatar
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    Mar 2005
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    Fixed your typo. Answer - no, not a good idea.

    -- Government traditionally underprices and overpays; we don't need yet another program doing more of the same.
    -- Given the overwhelming failure of Fannie and Freddie, it would be best if the government just got the '''' out of the housing market and let the free market [or what's left of it] try to find its equilibrium ... wherever that happens to be.
    -- I see this as an explicit attempt to bail out MBS and CDO holders [read: the major banks] and shift even more losses onto the backs of taxpayers. Taken a step further, this has the potential to allow for bailouts of states; if the government's "solution" to the G.M. bankruptcy is a template of what to expect, no thanks.
    "You better get to living, because dying's a pain in the ***." - Frank Sinatra

    http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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