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Originally posted by leo123
Finally, and please correct me if I am wrong, your Repubs in both 2002 and 2005 by McCain himself no less on the latter) tried to change this act to cool off the growing prob but your Dem controlled house voted them down both times.
China held $414 billion in US Treasury bonds as of April, according to data compiled by Bloomberg. And according to HUD's website, as of June 2006, China held $107.5 billion in MBS, up from $3 billion in 2003 and $100 million in 2002
During a recent trip to Beijing, US Department of Housing and Urban Development (HUD) Secretary Alphonso Jackson tried to sell China on the idea of buying more MBS. Investing in MBS offers better returns for China than US Treasury bonds, and at the same level of risk, Jackson claimed.