Fannie Mae-No Politics (FNMA)

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It was brought forward that Mel Watt wanted the 3 billion to pay the subsidies. Congress demand to know why Watt was paying subsidies when he was asking for a bailout.

Mel Watt conducted auctions to sell assets of FnF .

HOWARD writes a critical article about CRT business paying hugh interest to tbtf banks to hold MBS , but states it is bad cause tbtf will abandon the risk at first sight of trouble . Now he praises Watt , who put CRT plan in motion. Putting the taxpayer at increase risk knowing tbtf are being highly compensated only to abandon risk sharing .

It is like Glen Bradford tweeted “ the conservertory it is about race”. The only hope to stop this is through a court decision or administrative act. Not going to happen through Congress. Administrative action by president only works till the next President changes it.

Watt is not your friend.