Replies to post #343957 on Fannie Mae-No Politics (FNMA)

[955]

More propaganda. Don't buy into Gov lies. Root cause of the crisis was NOT a failed housing policy. Housing finance system is NOT broken, never was. What's broken is OUR corrupt Gov. who along with Treasury, the Federal Reserve and big banks orchestrated this brazen scheme over many years to take down $5.5 TRILLION dollar business of Fannie Mae and Freddie Mac to gift to themselves. What's consistent is the ongoing Gov attempt to continue to snow taxpayers into believing F&F were at fault.

How did I miss this? Hill Introduces lending reform bill


WASHINGTON — Thursday, Congressman French Hill (AR-02) introduced H.R. 5505, the GSE Review and Reform Act. H.R. 5505 would require the U.S. Treasury Department to study ending the conservatorship of the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac on an annual basis.

Despite being at the center of the 2008 financial crisis and requiring a nearly $200 billion bailout from American taxpayers, the Dodd-Frank Act failed to address the root cause of the crisis — a failed housing policy. Other than a 2011 study, the administration has had little engagement with Congress on a path toward ending this eight-year-long conservatorship and reforming our broken housing finance system.

“There has been no progress toward moving these federally dependent GSEs out of the conservatorship. My bill would force Treasury to study this issue and present its recommendations to Congress at least once a year, creating engagement on the best path forward on housing finance reform to end taxpayer exposure and ensure access to mortgage credit for Americans,” said Hill.

http://m.thecabin.net/opinion/2016-06-17/hill-introduces-lending-reform-bill#gsc.tab=0

[rekcusdo]

This bill would be very bad for us. Hope it doesn't make it very far.

This could make our cases not meet the requirements for ripeness and would bolster the governments argument that we must wait for Congress to make changes.

[Mikey Mike]

Now is not the time to study the root causes...now is the time to recapitalize and release. They know the GSE's weren't the cause of the crash. GSE's did their job of recovering the economy very well in a deep recession which was the reason why the GSE's were formed after the Great Depression...to prevent another depression. The government always wanted to take back the GSE's after it was sold to pay for the Vietnam war due to the immense profitability (it paid for one of the most costly war of all time, think about it)...this recession was the fine opportunity to do so...