Right, the banks went over the moon with their ability to create $$ by pushing every possible loan because they knew Fannies rules were so relaxed that they could just stuff it in the box with impunity.
Remember those guys? BA, WF, CHASE, COUNTRYWIDE, INDYMAC, etc etc? It only worked for them because Fannie was forced to relax their rules so that housing could be purchased by anyone who could scare up a little cash to get in.
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