Replies to post #308455 on Fannie Mae-No Politics (FNMA)

[Dollars1]

From Gramm's written
"The Financial Stability Oversight Council (FSOC) was specifically empowered to override precedents and bipartisanship. Since FSOC meets in private and is made up exclusively of the sitting President’s appointed allies, bipartisan input and sunshine -- the historic checks on regulatory abuse -- have been lost. In addition, since what constitutes a systemically important institution was never defined by Dodd-Frank, it has become whatever FSOC says it is. The systemically important designation of FSOC is now a sword hanging over the head of every major financial institution. Banks that have been designated have regulators embedded in their executive offices to monitor and advise, eerily reminiscent of the old political officers who were placed in every Soviet factory and military unit."