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**Thanks to Jonathan Miller for bringing this to the HREB’s attention.

 

“We were actually shocked they did this,” says Scott Simon, who as the head of the giant bond fund PIMCO’s mortgage-backed securities team is one of the world’s biggest mortgage bond traders. “It seemed so out of line with their mission.”

The trades “put them squarely against the homeowner,” he says.

Freddie Mac Bets Against American Homeowners

by Jesse Eisinger, ProPublica and Chris Arnold, NPR News Jan. 30, 2012, 5 a.m.

 

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