the fundamental side of FMD

their whole business model is broken. They used to securitize student loans, sort of like FNM. With the credit market tightning, they can no longer do that. They haven't done any single securitization deal for almost a year.

It won't go bankrupt in the near term, though. It can continue to service its current customers. But no new deal, you know, zuo4 chi1 shan1 kong1.

Don't bother with these pig companies unless you DT. They don't provide any long term values.