Fannie Mae-No Politics (FNMA)

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Leading Economist: "Eliminating Fannie Dangerous to Economy"


Excerpts:

By suppressing the truth underlying the real economic malaise, the ‘established expertise’ in the CBO study as well WSJ commentary turns out to be factually fallacious, specious and dangerous to the US economy. The Financial Crisis Inquiry Commission has found in 2011 that that the financial catastrophe of 2008 was caused by the failure of the established experts in the academy, industry and government to see, e.g., that elimination of F-F is dangerous to the economy. It is, therefore, prudent to dissociate the failed expertise from fact-based government policy, such as: voiding the unconstitutional profit sweep agreement imposed on F-F, unilaterally by the Treasury–the governmentarm of the private banks–and recapitalizing and releasing F-F from conservatorship with a clear mandate to not subsidize either the privileged or the unprivileged citizens.

Full Letter to the president by one of his economic advisors:

http://www.pro-prosperity.com/US-President-CBO%20Proposal%20to%20Eliminate%20Fannie-Freddie%20is%20Dangerous.pdf

Source: http://www.pro-prosperity.com/