Fannie Mae-No Politics (FNMA)

[YanksGhost]

The guy that wrote this is a MORON. He just joins the legion of morons that cite the old CANARD about how Fannie & Freddie caused the Crisis and need to be gutted like a moose carcass in hunting season.

The GOV REGULATOR set the capital standards for the GSEs prior to the crisis. If they were insufficient, the GOV owns the problem.

The total bullshit part of this garbage article is that lax underwriting standards indict the GSES as the cause of the Crisis. The GOV Regulator directs those standards. The conservatorship was not set in motion to save the taxpayers or the GSEs. It was to save the banks and banking system that the GOV conservator directed them to relieve $40 B per month in toxic loans from the banks. This served to create market liquidity at the expense of shareholders who saw two of America's largest private companies NATIONALIZED in a taking without any due compensation.

This article in the Washington Examiner is good for one thing, and one thing only. Wiping your ass.