Fannie Mae-No Politics (FNMA)

[jeddiemack]

Keep in mind AIG asked for the bailout and it negotiated its own fate.

Fannie and Freddie.. did not ask for a "bailout" (they didn't need one) and didn't negotiate the terms of the taking.

In the case of Fannie and Freddie the government took them over and gave them the "terms" of the take over. There was no negotiations.

Problem is FHFA can be a "pitcher" or a "catcher" and can be both. BUT it can not be both on the same pitch. That is self dealing and that is wrong if not illegal. In all matters relative to Fannie and Freddie, the taking, the warrant, the 3rd amendment the government was both Pitcher and Catcher (on the same pitch). I think that's a no no.