Wednesday, January 22, 2014

How the Obama Administration Stole Fannie and Freddie

this is a MUST READ:

How the Obama Administration Stole Fannie and Freddie

http://www.nationalreview.com/corner/369201/how-obama-administration-stole-fannie-and-freddie-ike-brannon?utm_source=twitterfeed&utm_medium=twitter

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my comment to this article

I would like to point out the govt settled the FRAUD from the banks on the victims Fannie and Freddie, for 10 cents on the dollar. Had the banks paid for their crimes fully, Fannie and Freddie would of never needed a dime from the treasury. Lets not forget all the free money the govt gave to THE BANKS in 2008-2009 from the then called CREDIT DEFAULT SWAPS. This is where the feds gave money to the banks for their CRAP loans on their books, in exchange the banks did not go bankrupt. I want to see the banks pay back the other 90 cents on the dollar to fannie and freddie. equal to 180 billion dollars the FHFA left on the table and let the banks off the hook for. FRAUD is still a crime is it not? THE BANKS put the screws to all of us, NOT F&F. F&F were here to save the housing in 2008-2014 when all private money ran away after losing 4 times what F&F did. Keep in mind the 20% fannie and freddie did lose to risky investments were due to the LIES on the mortgages that the BANKS SOLD to F&F. remember the one doing the BAD always pays the Innocent. F&F have not lost any lawsuit yet and the BANKS are paying huge sums, even if only 10% of what they should, TO FANNIE AND FREDDIE. THE Banks really stuck it to the american taxpayer.

2 comments:

  1. As far as I can tell they want to reform the Mortgage System, and that in turn will reform fannie and freddie. They can use FHFA to regulate the two and this would reform them also. They dont really have what it takes to shut down a private 100% shareholder owned solvent corporation. They could do it though, but to what end? kill Housing? Banks are running from mortgages, So who will provide the financing if not for F&F? The US govt directly? Very doubtful, THE US does not want the 5 trillion added to the US balance sheet. And that would not be the govt backing away from mortgages, that would be the govt being the biggest in the business.

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