Friends I wonder if this is clear
TECHNICAL APPENDIX: HOW TO DETECT WHO WILL GO BUST
Next, let us examine a method of detection of fragility. We can illustrate it with the story of the giant government sponsored lending firm called Fannie Mae, a corporation that collapsed, leaving the United States Taxpayer with hundreds of billions of dollars of losses and, alas, still counting.One day in 2003, Alex Berenson, a New York Times journalist came into my office with the secret risk reports of Fannie Mae, given to him by a defector. It was the kind of report getting into the guts of the methodology for risk calculation that only an insider can see — Fannie Mae makes its own risk calculations and disclosed what it wants to whomever, the public or someone else. But only a defector could show us the guts to see how the risk was calculated.