Yes. How could I have been so blind to the facts? There was no financial crisis. Banks were all sound and likely to continue functioning as normal, loaning out mortgage money as always. Bear, Stearns and Salomon Bros. were on solid financial footing. The car makers were enjoying record sales and hiring workers like crazy. Insurers like AIG were in tiptop condition. The bond market remained hot as the global buyers of fixed income debt instruments like MBS were lining up to buy Fannie and Freddie's coming offload of bonds. There were no concerns about GSE credit ratings or ability to ay vs. default on MBS they sold previously. And no problem coming up with sound mortgages with which to generate future MBS offers and sale revenue from bonds. There were no problems in the real estate market. Almost no homes were under water and housing prices were on the rise. Those foreclosures and mortgage defaults were actually running at historical norms of 1.2%, not almost 4%. And with employment figures running so high, there were no warning clouds to dampen the envisioned future of any part of the mortgage financing, housing or banking industries.
Yup. The government engineered an elaborate scheme to conceal its nefarious motives to take the GSEs away from shareholders. It's just like when NASA faked the moon landing. It was all just staged histrionics to facilitate government's evil plan. TARP was probably all part of the plot, as well. And the $ trillions in Quantitative Easing I & II, let alone Fed actions driving the interest rate to near ZERO %. These actions had nothing to do with any real concern for any real crisis. And they had nothing to do with resuscitating FnF's numbers in 2009 and beyond. They were just a secret, hidden element in the government's Fanniegate fraud.
Yes, I see things more clearly now.
LOL.
