Replies to post #590182 on Fannie Mae-No Politics (FNMA)

[955]

Fannie Mae & Freddie Mac qualify for RICO compensation. Criminal charges MUST be filed.

The Racketeer Influenced and Corrupt Organizations (RICO) Act is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. The RICO Act focuses specifically on racketeering and allows the leaders of a syndicate to be tried for the crimes they ordered others to do or assisted them in doing, closing a perceived loophole that allowed a person who instructed someone else to, for example, murder, to be exempt from the trial because they did not actually commit the crime personally.[1]

RICO was enacted by section 901(a) of the Organized Crime Control Act of 1970 (Pub.L. 91–452, 84 Stat. 922, enacted October 15, 1970) and is codified at 18 U.S.C. ch. 96 as 18 U.S.C. §§ 1961–1968. G. Robert Blakey, an adviser to the United States Senate Government Operations Committee, drafted the law under the close supervision of the committee's chairman, Senator John Little McClellan. It was enacted as Title IX of the Organized Crime Control Act of 1970, and signed into law by Richard M. Nixon. While its original use in the 1970s was to prosecute the Mafia as well as others who were actively engaged in organized crime, its later application has been more widespread.

https://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act

[Donotunderstand]

sheer nonsense

they bought those for investments !!!!

they did not insure them etc. but held them as they took a 25-35% haircut on a mark to market (non cash) basis

You would need to have been a fly on the wall

You say to meet … housing goals - based on a ton of articles

I say - based on a ton of articles over all the intervening years - that F and F had profits and invested their profits in junk paper

Dumb and Dumber for a company doing well to invest in the worst part of the same industry -- reason --- profit - bonuses - golden parachutes