Fannie Mae-No Politics (FNMA)

[Donotunderstand]

copied
Mortgage securitization — packaging different mortgages into a security, slicing them up according to risk, and selling the bond to investors — is universally viewed as the principal cause of the 2008 Global Financial Crisis (GFC). While poor underwriting standards and misguided federal legislation helped inflate the early-2000s housing bubble, a three-decade buildup of mortgage securitization laid the foundation for a once-in-a-century financial panic that exploded across Wall Street and nearly took the entire system down with it.


The above is not accurate as it is way way too global - yet by following a positive discussion of F and F it implies the problem was F and F

Seems to me WE learned - or should have learned from the facts exposed that greedy banks blew up the MBS system - not F and F
Banks made loans under false information on purpose having learned how to sell shit to F and F ---- burying crap with lies
Bond review companies - paid by the banks and other sellers rated everything way way too high to get paid
Banks got into the PL MBS business and the worst of their crap they packaged sold and watched explode

Post 2008 - based on the TONS of lawsuits won and fact gathering it was clear F and F was not at fault. The one thing F and F did - that did accelerate fear --- was they too got greedy (competitive?) and bought a ton of PLMBS and thus assets they held - built by others - went down fast in value --- but again to me the core of that problem goes back to the Banks - the big ones .