Meanwhile, Credit Suisse notes that the government's expanded backstops for Fannie (FNM) and...

|By:, SA News Editor

Meanwhile, Credit Suisse notes that the government's expanded backstops for Fannie (FNM) and Freddie (FRE) may be the precursor to large-scale purchases of delinquent mortgages out of the securities they guarantee - giving them enough headroom to absorb the $220B of delinquent loans in their securities. The late Tanta called this one two years ago.