Fannie Mae-No Politics (FNMA)

[Letgoofmyfannie]

E for Evidence

Fanniegate Blues #5: E for Evidence, Judge Sweeney sees it

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!