Fannie Mae-No Politics (FNMA)

[FOFreddie]

Check out the email trail and decide if Robert Steel wanted to have the GSEs recapitalized in March of 2008 or if he undermined the efforts of the Senate Banking Committee and the GSEs?

https://fcic-static.law.stanford.edu/cdn_media/fcic-testimony/2007-2008_Fannie_Mae_Timeline_and_Supporting_Documents.pdf

Sounds like just what Calabria was saying in his post. He probably has first hand knowledge of what actually went down since he was a staffer for Senator Shelby on the US Senate Banking Committee at the time. A week after the Barrons " For your eyes only" Memo comes out - Bear Stearns is forced out of business.

Here is the "For your eyes only" Memo

https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-03-08_Treasury_Email_from_Hason_Thomas_to_Robert_Steel_Re_Source_document_for_Barrons_article_on_FNM.pdf