Saturday, September 22, 2018 10:33:54 AM
YanksGhost,
You are repeating once again the same false propaganda statements that were used by the Wall street crooks, politicians and media that led to seizure and robbing of FnF.
FnF are not the only ones allowed in the secondary mortgage market to buy mortgage loans and issue MBS. Any private banks or companies are allowed to do the same. So FnF are not monopolies but they are large players in secondary mortgage market. But unlike other private banks and companies, FnF are used to for Gov policy purposes without any direct financial support from Gov. BTW Banks have Gov direct and indirect guarantees and subsidized facilities for borrowing. BTW during 2008 banks borrowed to the extent of $16T from Gov at subsidized rates.
FnF do not have any Gov implicit guarantees, if they were to have any Gov implicit guarantees, then why would Gov impose usury SPSPA on FnF and bankrupt them.
During good times, Gov bureaucrats asked investors to invest in FnF assuring soundness of FnF. During crisis Gov bureaucrats lied and fraudulently used FnF to bailout insolvent banks at the cost FnF investors. Why FHFA/Gov bureaucrats are acting so secretively? Where is the honesty?
The best plan is Shareholders Post card plan which takes care of all these issues and resolves in the best interest of all stakeholders.
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