Fannie Mae-No Politics (FNMA)

[Letgoofmyfannie]

Fanniegate Blues #5: E for Evidence

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Fanniegate Blues #5: E for Evidence

E for Evidence, Fan & Fred didn’t need no bailout
E for Evidence, Fan & Fred don’t need no stinkin’ bailout
Assumed insolvent by worst case book-loss, oh look out!

Banks dumped bad loans on Fan & Fred with high default rates
Banks dumped bad loans on Fan & Fred with high default rates
As private mortgages dried up and folks were forced to rent

Banks are far more risky, while Fan & Fred are good to go
Banks are far more risky, while Fan & Fred are good to go
Look up the carnage at Deutsche and Wells

Fan & Fred had no minus cashflow in the Housing Crisis
Fan & Fred had no minus cashflow in the Housing Crisis
Congress erred passing HERA, now Treasury acts like ISIS!