Fannie Mae-No Politics (FNMA)

[big-yank]

Now it's just getting silly. Mortgage loans are collateralized by property and inherently carry a much lower level of default than unsecured credit card debt. You cannot compare the two as comparable. If you compare the leverage multiple of banks loans vs. deposits to FNMA's ratio of MBS bond payments outstanding to reserves on hand, the risk profile is MUCH higher. It is one of the key underpinnings to the wallstreetonparade investigation into FnF.

http://wallstreetonparade.com/2016/05/confidential-memo-in-the-hedge-fund-battle-for-freddie-and-fannie-comes-out-of-hiding/

This is great, fact based stuff. And it clearly proves my point.

JMHO.