Fannie Mae (FNMA)

[whipstick]

Honestly why would expect accountability now? There wasn't any after the crisis all they did was set up the system to be even more thick with moral hazard with no jail time for any bad actors, slaps on the wrists at best. Note how the courts have treated the shareholders here. It's a fucking disgrace and if the media wasn't such a shitshow of corporate largess that does it's job to keep the populace docile, there would be riots on the streets still. There were riots. Remember occupy? That'll only be worse the next time the market dumps.

What that tells me? Be as aggressive and shady as possible. You can either act on that and hope you don't get caught or just not worry about getting caught because the, royal you, has your regulators et al captive.

So you are right to lament but the only silver lining is that there is no alternative to the GSEs to float the us economy, there is no desire by banks to actually have the risk on their books. They don't want it. They want to change the rules so they get the fees but they don't want to own any of the first loss exposure.

It's very clear what's going on here.