This op-ed from the WSJ is embarrassing. The author doesnt understand that FnF famously guaranteed their mortgage backed securities and therefor the difference between private label and agency mbs.
The difference with the new "Conneticut Security " is that now FnF is producing MBS that are not guaranteed, the investor who buys them takes the risk, not FnF.
I dont know whether to take pity on the newspaper or get mad, non the less its comical.
jmdbro, you continue to be the only adult on the board, its clear you only counter punch Billion with insults because he fires the first salvo.
Your post was very useful and informative. We should all insult billion whenever we can, even if Billion doesn't say anything. This backs up everything you've been saying that Billion is the one that starts with the trash talk. Please continue, we are all waiting to take in more of this trash talk where you counter punch in self defense.