so many contradictions in there. "the system hasn't changed at all...the system is so different banks are fleeing." dizzy!
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I see. But the premise of $5.9 trillion of securities or like all of US housing finance being dependent on GSE lifelines?
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and didn't punish the banks, either.
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the 30 year fixed is everything. without it, you don't need the gses. with it, you do (or something like it).
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Ironically during the 80s/90s industry was more worried about interest rate risk, not credit.
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sure longer version of that idea http://on.wsj.com/16zINhv
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need more than assertion there, certainly can have boom/bust with fully amortizing
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exactly, which is why we still need to worry about housing/property booms/busts, still an issue
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Which report? Laurie at Urban uses our data. I've shown her that chart.
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Yes when you account for all factors risk is low.
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