The Fire Sale to Fortress

Hats off to Deal Junkie for the tip on this hysterical video. Unfortunately, there is also a grain of truth in it: Reuters is reporting that foreigners dumped nearly $11 billion from their holdings of GSE debt in the last four weeks, and analysts say they won't return in force before it's clear if -- and how -- the government will back Fannie and Freddie. GSE yields have reached levels not seen since the weeks prior to the Fed's forced sale of Bear Stearns to JPMorgan...