Fannie Mae-No Politics (FNMA)

[jeddiemack]

Whoa .. nelly.

You start off sound and then get back to that "nobody" business.

The sub prime mess was not caused by fannie and freddie. Remember they don't originate loans. And to a great extent their investing standards (were set by government mandates) Meaning that, sure the government "stood" beside them and guided them... and took no responsibility for the messes they created.

Fact is the the government does this because it can and as a result it has some responsibility for the mess it created.

The warrant, the high interest rate, cramming it full of cash by excess reserves and accounting tricks (in order to go big in asset purchases) and the swipe are all a raping of an unsuspecting victim.