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Friday, December 06, 2013 3:22:24 PM
Could they do it? Possibly...
The real question is WILL they do it.
In my personal opinion, right now the politicians and media are simply pandering to whom ever appears to have the most political clout....with the media going in any direction to stir up the most controversy.
Most of us that frequent this board know a good deal more of the truth than the average joe, which does bias us to an extent, but it also allows us to better understand the probabilities and most likely outcomes as this progresses.
As more and more people learn the true ramifications and difficulties in a "wind down" or "elimination" of FnF, we will see more and more people calling for "reform" of FnF. Change the procedures...more oversite...better regulation... and hopefully what I see as the most important aspect...accountability.
As some changes are implemented, re-evaluate, analyze data, remodel as data indicates...wash...rinse...repeat. Eventually they will have a sustainable working model (depending on who they are) that will benefit the taxpayer and current/future home buyers. And it will take YEARS no matter the direction they choose.
Why eliminate two entities that already have the expertise and infrastructure in place and start over, when an obvious and likely alternative is to rework what currently is in place to fix the boo boos. And we know the boo boos go FAR beyond FnF.
Personally, I think it's political suicide to attempt to steal away a publicly traded company from the share holders. I know they have tons of backing, and they have tons of money, but I believe as these lawsuits progress, more and more truth will come to light, and the general public will respond with votes.
Was FnF guilty of crashing the housing market...no...were they a part of it...yes...willing?...possibly...forced?...most probably.
We do know there were mandates back in the Clinton administration that dictated FnF would support questionable loan practices in the pursuit of the american dream of home ownership.
We also know unfortunately...at those executive levels...those people typically will go untouched and reap massive paydays and never have a worry as the average taxpayer does.
There are some powerful voices out there that hold both preferred and common shares of FnF, and they won't go down quietly.
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