Freddie Mac’s loss could prove to be someone else’s gain as managers from the government-sponsored enterprise’s recently folded MBS trading operations are set to ply their trade at other firms. Ten former members of Freddie’s Securities Sales & Trading Group have joined investment banker Friedman, Billings, Ramsey to form the firm’s first MBS trading desk. Another group of six former Freddie SS&TG professionals have found a home at BNP Paribas, the French bank confirmed this