Fannie Mae (FNMA)

[Donotunderstand]

Wallison had decided - based on economic political view - that F and F were poison long before the fiscal crisis

He then authored the first minority report for REPS - which came out before the actual commission report

Four signed on - three others plus him

That report put 90% of the blame on F and F and policies to promote ownership (Bush) and housing affordability (Dems)

As information - facts - were brought to the attention of the commission a final report came out

At that point all but Wallison supported the balanced picture that the final report presented

That is my memory - which grows old

By now I am amazed at the number of REP posters who are long F and F and put their head in the sand re the Republican opposition to F and F

This is the same war cry of Peter Wallison, Stanton and Ely though their method of privatization is wholly undesirable. Know thy enemy. These three sought to reinvent the wheel by forming a one or more Mortgage Holding Subsidiaries, state-chartered general business corporations authorized to operate for profit and owned and controlled by commercial banks, thrift institutions, a bank holding companies or a financial holding companies (mortgage holding subsidiary parents) who will have an equity interest (i.e. Mortgage Holding Subsidiaries are like Mark Zandi's Mortgage Bond Insurance Corporations). The GSEs will transfer everything over to Mortgage Holding Subsidiary that will own, service, or securitize residential mortgages, but not originate them.


That is the Republican majority view (that for reasons unknown to me to this day - found some favor with BO but not key Senate Dems who blocked ....)