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So, it doesn't matter if it is $25 Billion or maybe $100 Billion Freddie and Fannie REALLY don't need the money, they only need a MIRROR that shows the money is there and all will be well in the home mortgage market. This is a cost free plan and it will not be needed, says Paulson. In addition, it expires in December 2009.
Why not convert all principal payments in the next quarter or two due on the collaterlized mortgage obligations to Stock? The holders could choose to either hold the stock or sell it in the market place. That way both agencies will be recapilized at no cost to taxpayers.
William C. Nimons, Ansonia, Ct
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