Fannie Mae (FNMA)

[136]

EXACTLY! $$$ FNMA

Just watched the MSNBC interview with Bruce Berkowitz. I was impressed that Mr. Berkowitz expressed several important points that we are all clinging to:
.the GSEs deserve the same treatment that AIG and the other financial houses received, nothing more but also nothing less.
.the courts are compelling the government to release the thousands of documents required for a just decision.
.the government changed the contract from 10% interest which was being paid to a net worth sweep of the entire GSE earnings. He used an example of your own mortgage receiving the same treatment.
.F & F survived the 2008 financial crisis and even supported the TBTF banks by taking lots of their subprime loans and did not even need to be placed in conservatorship.
.He told that he was invested in the GSEs via preferred shares, but did not comment on the common shareholder effects.
.It has taken time. but --- he made no predictions, good or bad resulting.


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All in all I thought Berkowitz said a lot.

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