Subprime Mortgage Problems Isolated to Just Seven States / Minyanville

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Meanwhile, over in the land of for-profit companies not explicitly backed by the full faith and credit of the U.S. government yet based on their size and role in U.S. credit markets... backed by the full faith and credit of the U.S. government, Freddie Mac (FRE) Treasurer Timothy Bitsberger said the subprime mortgage problems are "very well defined'' and largely confined to a small percentage of borrowers in seven states, according to a Bloomberg story.

:-)!!!!!