Fannie Mae-No Politics (FNMA)

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timhoward717
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Setting the stage.

24 Thursday Jul 2014

Posted by timhoward717 in Uncategorized

˜ 16 Comments

Maxine Waters The Ranking Democratic Member of the House Financial Services made some very telling remarks at today’s Financial Services Committee Hearing entitled, “Assessing the Impact of the Dodd-Frank Act Four Years Later”.
I will expand a little more later but these quotes say quite a bit.

“They incorrectly blame the financial crisis on government efforts to house the poor and disadvantaged – despite the fact that private mortgage securitizations built on predatory mortgage loans started the crisis, exotic over-the-counter derivatives exacerbated it, and poor corporate governance and risk management allowed it to flourish.”

“And though they are the loudest critics, Republicans have never offered an alternative. No alternative to protect consumers. No way to wind-down large, complex banks. And no capacity to pass reforms of Fannie Mae and Freddie Mac.”

The narrative is continuing to shift. The stage is being set.
keep the faith!

http://timhoward717.com/