Replies to post #317783 on Fannie Mae-No Politics (FNMA)

[Mikey Mike]

Where do you get banks selling derogatory loans to the GSEs as Fannie and Freddie affirmation of collapse? On the contrary, it's quite the opposite. You see, at the time of the collapse the government forced the GSEs into conservatorship because the government needed a vehicle to bailout the banks and they chose the GSEs to be their ride. So essentially, the government bailed out the banks via the GSEs in order to save the economy. The GSEs were being operated by the government as a utility companies through conservatorship. It wasn't the GSEs buying underwater loans...it was banks selling underwater liar loans to the GSEs. Two completely different things. I remember receiving a letter from the bank automatically approving a higher mortgage line of credit just because the value of the home substantially increased without any rhyme or reason in a very short period of time. I never asked for a higher limit...they just gave it to me. As far as your link for a confirmation that you maybe looking for...it's really not in commander's copied article. You might be better off taking a look Carney's tweets or Senator Corker's website. Thanks for playing the game. P.S. Don't hate the players...hate the game...