Fannie Mae-No Politics (FNMA)

[Achilles deFlandres]

My opinion is that is is like collective bargaining. Everyone in DC is pro government. They want the job and the paycheck and the cushy life forever. Then they want their kids and their neighbor kids, nephews and nieces to go to elite schools and fill put the ranks. Where are most of the jobs? Where does the highest paid government employee work? The bureaucracy(ies). When you go to the country club on Sunday, the last thing you want is to run into the family of a cutback victim or a non-hire. The entire saga started with a takeover. Congressional reps (Denny Heck and Rep Hill) are on camera saying things like "...since we bought them...". Most believe the GSEs were bankrupt and were 'bailed out" (aka purchased out of bankruptcy). So much so, and I believe Alito had just discovered not, that Alito needed to write that they were not insolvent. We know that they were not even close to insolvency. The regulator directed fire sale didn't even cause insolvency and as far as I'm concerned the money isn't lost until the asset is sold. So the takeover was intended to merge the twins into the FMIC, the new shiny bureaucracy in the new building operating on the CSP and employing many highly woke fledgling bureaucrats stuffing the housing trust fund to the gills and generating TPS reports until doomsday.