Fannie Mae (FNMA)

[Donotunderstand]

nope

simply wrong and disproved in all the post mortem studies

lots of hot air for "housing help"

not a lot done

look to the interest only mortgages !!!!! that were not explained and blew up in year 5 when it amortized (but by then Banks had sold them !!)

look to the 80 10 10 10 - which is an 80% mortgage and 10% mortgage and yup 10% strip mortgage- all made into bonds - and the 20% that should have been down payment equity was debt held by pensions and such ---- again - banks had sold the risk off

banks greedy
pensions and such looking for yield and yield and yield and not willing to understand the risk
rating agencies - PAID BY BOND ISSUERS - rating pure crap - and worse as AAA

that is known

the poor and loans to the poor never were more than 1 or 2 percent of the market --- outside say HUD which took care of its own

reality - one does not sink a multi trillion dollar market with a few loans to poor people - even if we wanted to do that - it would not happen - and for sure the BANKS would make the loans - make profit - package the paper - sell it - make profit - carry no risk - award bonuses and golden parachutes and then get true relief as in corporate welfare

days are gone - with the end of LBJ (who meant well) ---- when welfare queens and strange loans were more than a pimple or less on the massive economy

just think about it