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View Diary: Federal Home Loan & Mortgage Corp is BANKRUPT(updated) (43 comments)

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  •  bonds are screwed, too (0+ / 0-)

    Bonds without the backing of monoline insurers don't have a AAA rating and the monolines are toast.  Bonds based on the willingness of people to continue to pay on assets that are dramatically under water at a time when a global depression is upon us are of sketchy value at best.

     So you're correct that stock != bonds issued, but all of it is a disaster.

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