Fannie Mae-No Politics (FNMA)

[955]

Couldn't be further from the truth. Subprime, alt-a and other unsustainable products were the result of GOV/HUD mandated Affordable Housing Goals that the GSE's were FORCED to meet to satisfy Clinton Administration/Barney Frank "Homes For All" policies, NOT bad decision making by the GSE's. More lies being spread to support the false premise that the GSE's were to blame for the crisis and put shareholders in a bad light.

David H. Stevens, President and CEO, Mortgage Bankers Association. That should be a clue to his motives.

As shareholder-owned, private companies, the relentless drive for returns and to compete fueled all sorts of bad decision making, which fed their massive portfolios with subprime, alt-a, and other unsustainable products.

In the end, the drive to benefit shareholders and to compete with other market players was paid for by taxpayers when the government was forced to bail them out.