Fannie Mae-No Politics (FNMA)

[jeddiemack]

Rek..

Your response here is really not following what the orginal poster wrote.

1. The original poster wrote regarding the BOD and the Take over. Your writing and mine are similar. In that I write it was not and you write it was not necessary for approval. I think I recall that approval by the BOD was given. It was given because the government told them they would not be prosecuted if they did. In any event, the approval was necessary because none of the factors allowing conservatorship had been met. The approval, however was as documented in the published book, and news articles, coerced.

2. This argument can go either way. I think its a stalemate and opinion based; Its a no win for either side of thinking and therefore, the tie must go to the runner. Which is the company which was fine and in good health, adequately capitalized in July was not on deaths door two months later. Also, your comment "depression" would have meant the end of the GSE's is argumentative and not fact based. Its pure speculation; Remember, not all loans were bad and not all homes that went "underwater" became foreclosures. And even with foreclosures there were few if any "total" losses.