Fannie Mae-No Politics (FNMA)

[lushka]

I agree. In reality if the GSE's did not exist back in 2008/9, ,the financial fallout would likely be unimaginably catastrophic .Just think on this . The plan to have the GSE's be the stabilizer back then was really very ingenious. It was the reasons provided and lack of transparency in how and why it was done that was dishonest and corrupt. And for that hopefully that wrong will be righted. In reality, the US and the world ,owe a huge debt to F&F for being in the financial position to stabilize the crisis. God forbid Congress does something stupid and breaks them into smaller regional companies as this safety valve would be lost. In fact ,on thinking more about this, the GSE's are a financial bedrock and without them everyone would be at risk and especially the taxpayers. Even in good times it is hard to imagine them not being here to stabilize things and help the economy run smoothly (i.e.. would the banks pass their stress test without them billions of dollars of mortgages on their books)