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Re: 955 post# 740344

Monday, 11/14/2022 4:32:50 PM

Monday, November 14, 2022 4:32:50 PM

Post# of 866794
Thank you! That is what I was looking for. I'm trying to determine if Treasury directed FnF to buy underperforming mortgages and then made FnF eat the losses them when they went bad. Larry Summers seems appropriate for being in the middle of this because he is noted for saying the Treasury was "working in STEALTH" with the TARP program and with mortgage bonds. I do remember that Treasury was purchasing a lot of the mortgage bonds FnF were correcting and returning to market. And, it appears FnF were creating losses for themselves by following Treasury's guidance to discount the price of the bonds they were producing for Treasury to buy.
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