Monday, November 23, 2015

Oct 2008 Facts of the time. $170 billion in AAA PLS garbage Falsely sold to Fannie Mae and Freddie Mac 2008!

Figure 2
Source: Office of Federal Housing Enterprise Oversight

By Barry Nielsen | October 20, 2008

What you will find interesting is just before the Takeover of Fannie and Freddie, $170 Billion in PLS which we know was investment grade Garbage sold to fannie and freddie by banks and investment banks.
Its interesting that this $170 billion is about the sum of the FAKE bailout to F&F.
There is NO way $170 billion is holding up $5000 billion in MBS. That is cause it is not!
$170 cannot hold up or take down $5000 to bankruptcy!! This is the facts of 2008!