Fannie Mae-No Politics (FNMA)

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FHFA a Treasury puppet............interesting.


Bill Maloni's GSE Blog:

Related Thoughts

A friend and blog reader wrote to me about the above issues, discovery, and the fact that FHFA produced very small independent paper trail, suggesting it did little on its own during the early conservatorship years between 2008 and 2012, but acted merely as a Treasury puppet.

He observed, “Ten years ago, there was zero evidence to establish any accounting violation by Fannie, which is why OFHEO (FHFA’s predecessor the Office of Financial Enterprise Oversight) persisted in concealing records that showed how the accusers lied. Today, there is zero evidence to show how FHFA (Federal Housing Finance Agency) acted on behalf of the GSEs, independent of Treasury’s agenda, which is why they desperately want to avoid handing over the documents that they have. And why they (the government) persists in maligning Tim.”

As this same longtime observer noted, “The FHFA –which is very exposed--should be very, very afraid of Tim Howard.”

For a discussion of the Fairholme and related cases, see the article below by Law professor Richard Epstein, who works for the plaintiffs and has written extensively about the “Third Amendment” or “takings” cases.

http://malonigse.blogspot.com/2014/09/doj-abuse-law-suits-and-bank-low-income.html