Monday, November 10, 2014

Carney’s latest garbage from the WSJ …

Carney’s latest garbage from the WSJ …
  • WOW, that guy is something special. He thinks that Fannie should go back to paying 10% on money it already paid back. What bizzaro world does he live in?
    The treasury gave up the 10% when it enacted the sweep. eliminating the sweep does not revert back to 10%.
    10% of what? the 24 billion extra it got over the money it borrowed plus interest.
    never forget the 117 number borrowed is not the real number borrowed. It is the number borrowed with 10% interest. Last check the treasury has taken 24 plus billion more than the money borrowed plus the interest.
    imagine you are in charge of the FHFA and you decide to give to Your cousin all of Fannies profit because you are the conservator of fannie. Does this sound like something that is legal?
    In private life you could be the conservator of your moms money and property, you decide to give it all to your brothers girlfriend? does that sound legal to you. could you do that and not be held liable and not be charged with a crime while leaving your mom without a penny to survive?
    No you could not, you would go to jail.
    does this sound like what the FHFA has done?
  • YES!!!!

2 comments:

  1. Yep--GSE Guru David Fiderer thinks the Treasury has made about $88 Bil plus on the real outlays to F&F, on real outlays of $144 Bil, when you deduct the borrowing to pay interest on the interest before F&F had sufficient income to pay dividends, beginning in 2012.

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  2. I could not agree more. I have seen even lesser estimates of what the real LOAN to F&F was. Certainly we can agree it was not 188 billion as we have all been told over and over.

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