Wrong wrong wrong
The gov stepped in for all the wrong reasons, and they're still hiding them claiming executive privilege and that it would jeopardize the entire financial system. The truth when it's fully revealed will completely exonerate the GSE's and prove both government and big bank/federal reserve malfeasance. The GSE's were forced to purchase 40 Billion in toxic loans from the big banks, which were worthless fraudulent crap, the worst of the worst. Meanwhile, the federal reserve bought up the best of the best of the mbs portfolio at a discount and profited fabulously. The Fhfa negotiated settlements with the big banks at 1-2 cents on the dollar in an overwhelmingly one sided agreement that benefited only the banks who dealt out clearly fraudulent garbage. The GSE's wouldn't ever agree to such abominations if not for the Fhfa seizing control and giving themselves the ability to craft such villainous deals. The companies never needed a bailout as per verified forensic accounting. The treasury wielded undue influence in directing the GSE's to over reserve for potential future losses utilizing accounting trickery to paint a picture of gloom and doom that didn't exist. Knowing this to be temporary chicanery, they used the third amendment to capture the profits from
The inevitable reversal. This is transparent fraud and can be clearly seen by anyone willing to take more than a cursory glance into the issues. When the cards are all laid out on the table, it will be clear to all that the government perpetrated massive fraud. This is why they are desperately using every trick to delay and obscure the facts from becoming public knowledge.
