Replies to post #204767 on Fannie Mae-No Politics (FNMA)

[implication]

Lots of hate indeed. I stepped in late to one of the larger meetings (man, what a whirlwind all that running around between offices was) so I wasn't really clear as to who all of the staffers were. The woman who took lead insinuated that FnF had been committing acts of accounting fraud for two decades prior to 2008 and that their motivation for wind down stems from that. While someone from the coalition noted that they were officially exonerated in court of such claims, I questioned how she could wax ethically about FnF's operations for two decades while the treasury is in the midst of an ongoing sweep of their profits. I also inquired as to why action wasn't taken earlier if they've truly been bothered for this long. Just why is taking action NOW so imperative? Last, and certainly not least, how is it that Crapo could amass his 100 million dollar construction fortune on the backs of FnF over the course of those two decades and not be a relevant consideration in this dubious "ethical" qualm. No answers. Never any answers. Just resolute proclamations that necessitate no underpinnings for their unwavering retention. You seem to have two camps in Congress, those interested in educating themselves further and those who have sold out long ago - merely parroting whatever their puppet of a boss tells them to say. I'm convinced many of the latter are so so indoctrinated and egotistical that they've come to actually believe they've formed their own views on matters. It's a sad state of affairs. Nevertheless, there's still some cogent and well-intentioned folk amongst the fray. Keep the faith y'all.

[chessmaster315]

Exactly. Because congress is mad at fannies "old" lobbyists (who numbered sooo many, they blocked the congressman's doors so that other lobbyists could not get in), they are trying to make America pay for rude lobbyists.

The "kill bill" fannie will:
1. Layoff thousands of fannie/freddie employees.
2. Devastate housing, building and real estate industries, as well as banking and mortgages. People wont qualify for loans as they wont have 20 percent down payment. Who will buy peoples homes? No one...they will mostly become foreclosures when people move.
3 Devastate current homeowners, (as property values will plunge), those who want to sell (or should I say give away) and make it nearly impossible for those who want to be homeowners.

4. Destroy real estate, title insurance, home inspection, mortgage, home repair, and construction industries. The only ones with a job will be those who paint signs "for sale" signs, and those who trade food stamps for liquor or cigarettes.

5. Destroy government, who wont have a tax base anymore, just unemployment insurance, which will run out quick.

6. Destroy fannie shareholders and inflame other investors who hold on to their cash rather than invest in a government they dont trust because they stole fannie shareholders money, why not theirs'
too.