Replies to post #582021 on Fannie Mae-No Politics (FNMA)

[955]

But it was Gov who allowed bank lobbyists to write their own legislation. It was Gov who hired big bank execs into high level Gov positions. Clear conflicts of interest. Are we just supposed to forget these minor details and sweep under the rug? Gov was the enabler. Then Fannie & Freddie were FORCED to absorb all the TBTF bank CRAP. But even in light of all of that, the GSE's survived with their fortress-like balance sheets and $30 BILLION+ cash (Fannie Mae) in the bank. ONLY with FHFA "cooked" accounting statements and lies to the American Public were they able to 'justify' a FAKE 'conservatorship'. They wanted receivership but that they realized was too much of a stretch. So they opted for FAKE 'reform legislation' through Congress to wind them down and eliminate them.

https://dealbook.nytimes.com/2013/05/23/banks-lobbyists-help-in-drafting-financial-bills/

https://investorshub.advfn.com/uimage/uploads/2015/5/27/upzxcfh4eca65e4.png

https://www.housingwire.com/articles/34280-the-three-card-monte-accounting-of-fannie-freddie-conservatorship/

The banks used the cover of "supposed GOV made me shoot myself" to make idiotic loans

We all heard over and over about loan officers telling applicants how much income to put down (so it would be enough)

We all heard over and over how banks did not check out income or tons of the information presented to them

Banks were not in a rush to make Affordable loans etc.

Banks were in a rush and hurry to make every possible loan - with sales contests and NO ONE caring about the quality of ANY loan as they off loaded the risk on F and F and others

Often the bank took a 5% up front tranche to "show good faith" and then the package would lose 40% of its value at F and F when bank had made its money

Sorry but it is beyond my capacity to calculate how affordable loans are the reason a 100T or whatever industry collapsed