Fannie Mae-No Politics (FNMA)

[Sogo]

I can't take credit for that find! Nogoodtrader posted it on July 3, 2013. Post #84078

The book is from 2010. It's called "on the brink". Exact quote is Bush asks Hank Paulson about FNMA, "Do they know it's coming Hank?" Paulson replied, "we're going to move quickly and take them by surprise. The first sound they'll hear is their heads hitting the floor."

Basically, Paulson, via Treasury, and at the behest of his Tbtf bank buddies no doubt, setup a scenario whereby the gvt could USE the GSEs as a dumping ground / "bad bank" into which they would dump the banks' toxic assets. That's our gvt at work; it's just thievery by another name. But also, I think Paulson's book has already been used / cited in lawsuits. It could be cited in some Fnma lawsuits; clearly fnma signed the conservatorship contract "under duress", and any contract signed under duress can be challenged and voided. It's one argument the lawyers will hopefully pursue at least.