Fannie Mae-No Politics (FNMA)

[Letgoofmyfannie]

A Reminder: John Carney's GSE Blarney

Figures lie and liars figure...let us continue our remonstrations against them

John Carney’s GSE Blarney

John Carney is a financial reporter
Writes a column for the W S J…
John writes about Fan & Fred in the W S J
Never says nothin’ nice ‘bout Fan & Fred
Nothin’ nice to say in the W S J…

Fan and Fred didn’t need a government bailout.
Forced to take worst-case book-loss scenario
One no financial institution could meet,
No financial institution could possibly meet…
A forced worst-case book-loss scenario

Strange $50 Billion in Deferred Tax Assets
Warn’t considered when Treasury forced the bailouts.
Fan and Fred weren’t given prior notice
To replenish their position from open market,
They coulda replenished their position with no bailout...

Net Worth Sweep is an Illegal Taking
Of private property against the 5th Amendment.
GSEs didn’t cause the housing crisis,
Too Big To Fail banks were the major causes,
Big banks makin’ no doc loans.

Our GSE model is a proven one
and they’re cost efficient too,
Ensure liquidity and low mortgage rates
To millions of US homes for many years,
Made millions of Americans homeowners too.

All Carney does is shout “tsk tsk”
Over "lobbying" & "someone making a profit"
John oughta consider investors invested in the GSEs
Before and during the housing crisis
Before during and after the housing crisis

yeah