Fannie Mae-No Politics (FNMA)

[tetondon]

One congress critter's allegation that FAM/FRE were unsustainable had me shaking my head. Excuse me? They've been around since WWII! If they're unsustainable, I think we would have found out about it decades ago.

Amazing how their "unsustainability" came about when banks were dreaming up new exotic mortgages that they bought and secured themselves, and nefariously (illegally in my opinion), had them boundled into AAA securities that they paid to have rated AAA.

Guess what!? FAM/FRE wasn't the problem! S&P and Moodies et al were!

I am beginning to agree. Seems like a really bad dream that is not grounded in any sort of common sense reality. The administration seems dead set in trying to do away with the very institutions that have been around for 80 years helping millions of Americans get affordable loans to buy a home, including my parents at one time. The logic of what they're doing seems counter-intuitive to the facts,