The Short Case on Freddie Mac

http://financial.seekingalpha.com/article/39013?source=i_email&u=7518

Jim Willie CB had a nice post on Financial Sense University describing the problem that Freddie and others face with their hedges. In my view yields are not out of control yet, but they need to be watched. It's clear that Freddie has been getting hit with a double whammy on their derivatives on one end and defaults on the other.

Thanks for the case study.