brutal. these are rookie mistakes. this is almost as bad as the errors paul krugman made when he was pontificating about GSEs in summer 2008https://twitter.com/AlecStapp/status/1376003462232735749 …
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"they arent allowed to hold subprime" maybe hypothetically but their 10Qs showed otherwise, in spite of their use of nonstandard definitions of subprime to try and obscure the fact they had trillions of dollars of this shit. Alt A as well
it took me, then a fresh graduate, a few hours to discover all of this. just reading GSE financial statements. and yet somehow big brain paul krugman Cant Be Bothered to get his basic shit right before writing a column it was a major blackpill moment for me
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