Fannie Mae-No Politics (FNMA)

[cooler_heads]

http://www.huffingtonpost.com/entry/elizabeth-warren-bernie-sanders-puerto-rico_56294d37e4b0aac0b8fc4a02?ncid=fcbklnkushpmg00000063http://www.huffingtonpost.com/entry/elizabeth-warren-bernie-sanders-puerto-rico_56294d37e4b0aac0b8fc4a02?ncid=fcbklnkushpmg00000063

Let me get this straight, Warren and Sanders don't want to see this happen to the people of Puerto Rico, but are completely fine with it happening to the shareholders of FnF at the hands of the TSY?


"Despite Puerto Rico's financial crunch, the federal government has resisted cutting the island any slack on its debt, even as it has driven the island economy to ruin. The Treasury Department wants Congress to pass a law giving Puerto Rico the power to wipe out some of its debt in bankruptcy, but the prospects for that proposal are slim in an era of legislative gridlock. At the hearing, Warren laid into the Treasury Department's top negotiator on the Puerto Rico crisis, Antonio Weiss, for punting the mess to Congress instead of forcing the vulture funds to cut a deal.



"Treasury needs to step up and show more leadership here," Warren said. "When the banks were in trouble, Treasury did a lot more than just bail them out. Treasury stretched the limits of its authority to make sure that the banks stayed afloat. It helped broker deals between banks. It applied pressure to get parties to accept deals they may not have liked very much."



"Now the people of Puerto Rico are calling. They understand there is no bailout on the table for them and they are not asking for one. After all, they aren't a giant bank. But they are asking the administration to do what they can do what it can to help broker deals to stand up to the vulture funds," Warren added."