Fannie Mae-No Politics (FNMA)

[chessmaster315]

I need to explain "why" senators are mad at fannie.

About 10 years or so ago, Barney Frank was a powerful senator who supported fannie. Fannie made lots of money and had a massively powerful lobby in congress. Fannie hired hundreds of lobbyists who went to each senators office. So many fannie lobbyists, in fact, they crowded out any one else who tried to visit the senator, blocking the door so no one else can get in.

As a result, the senators could not effectively hear the wishes of their district.

Fannie goes into cship and the fannie lobbie goes away. Whew! Now the senators are angry and vow to not let their offices be filled with fannie lobbyists again.

They want to punish fannie shareholders for the sins of 10 years ago, "holding a grudge".

We need to reform fannie and make sure that rude lobbyists can not inflame congress again. We may even need to apologize to senators for what those people did, even tho 99.4% of us, if not 100% of us, had nothing to do with this. We did not even know it was happening.