An Agency MBS Massacre?

Over at a financial forum...

"The federal government is trying to get taxpayers off the hook for billions of dollars of potential losses if another mortgage crisis arrives – and in the process, it's quietly giving birth to a new asset class. Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) next year plan to ramp up sales of new types of securities (called Connecticut Avenue Securities and Structured Agency Credit Risk) that in effect transfer potential losses in a housing downturn to private investors. The sales are especially notable because issuances of private-label MBSs, which also give private investors mortgage exposure, are still moribund."

This should be the acronym for the agency handling this one… Mortgage Asset Securities and Structured Agency Credit Risk Enterprise – aka MASSACRE.