Tony Sagami - Veteran investment advisor and a leading expert on Asian markets.

China loves the Fannie Mae bailout

by Tony Sagami on September 8, 2008

You know who jumped for joy the highest over the Fannie Mae and Freddie Mac bailout? The Chinese.

Chinesecommercial banks held a total of $24 billion of mortgage backed debt and the Chinese central banks is estimated tohold $400 billion.

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