Wednesday, June 3, 2015

Fannie Mae and Freddie mac 2014 Wikipedia

http://en.wikipedia.org/wiki/Freddie_Mac
http://en.wikipedia.org/wiki/Fannie_Mae
http://en.wikipedia.org/wiki/Federal_Housing_Finance_Agency
Both can be found by googling either PRIVATE corps name.

2014
In 2014 it has become clear who the destructive people were in 2008 to Fannie and Freddie, as reported by WSJ.
Goldman Sachs Group Inc. settled a U.S. housing regulator's lawsuit for about $1.2 billion, resolving claims the Wall Street firm failed to disclose the risks on the mortgage bonds it sold before the financial crisis.
Goldman and the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, on Friday said the New York firm had agreed to buy back mortgage securities that it sold to Fannie and Freddie for $3.15 billion.[22]
Whats interesting is Henry Paulson, 2008 secretary of Treasury was the Chief Operating Officer from December 1994 to June 1998 of Goldman Sachs. Was the Fox in the Hen house? His compensation package, according to reports, was $37 million in 2005, and $16.4 million projected for 2006.[12] His net worth has been estimated at over $700 million.[12] Paulson has personally built close relations with China during his career. In July 2008, The Daily Telegraph reported "Treasury Secretary Hank Paulson has intimate relations with the Chinese elite, dating from his days at Goldman Sachs when he visited the country more than 70 times."[13] Before becoming Treasury Secretary, he was required to liquidate all of his stock holdings in Goldman Sachs, valued at over $600 million in 2006, in order to comply with conflict-of-interest regulations.[14][23]
The Man leading the Conservatorship sold out of Goldman in 2006, but yet in 2014 Goldman settled with FHFA for misleading Fannie and Freddie in 2008![24]
The list of wrongdoers in 2008 goes on, none of them is Fannie Mae or Freddie mac, yet the conservatorship goes on.
Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement for Financial Fraud Leading up to and During the Financial Crisis.[25]
Oct. 20,2013 (Bloomberg) -- JPMorgan Chase & Co.’s record $13 billion deal to end U.S. probes of its mortgage-bond sales would free the nation’s largest bank from mounting civil disputes with the government while leaving a criminal inquiry unresolved. [26]
Using google to search, it is clear the TBTF banks had a large roll in the 2008 MBS crisis.


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