Replies to post #740378 on Fannie Mae-No Politics (FNMA)

[Golfbum22]

I remember

But our lawyers are not for us

They keep losing to get paid and not win

Everyone is against us

Including both sides of the isle in govt

It’s time for a civil war to fix this corruption in government

Fake news
Voting machines being manipulated

It’s Rome burning

Too many people in positions of power for too long and too many payoffs by the tbtf banksters

Only 1 way to fix and it’s not the courts

Civil war was what 1876 era

It’s time has come again

[Patswil]

Why did the Fed buy mortgage-backed securities in 2008?
The reason the Federal Reserve owns mortgage-backed securities goes back to the golden days of the financial crisis of 2008 and 2009, when the Fed was trying to prevent the mortgage market from collapsing

November 25, 2008

Federal Reserve announces it will initiate a program to purchase the direct obligations of housing-related government-sponsored enterprises and mortgage-backed securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae
For release at 8:15 a.m.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20081125b.htm

[Rodney5]

Paulson Argues for Need to Buy Mortgages

Quote: "WASHINGTON ? An enormous, taxpayer-financed program to buy up bad mortgages and other distressed debt is necessary to protect the savings and aspirations of millions of Americans, President Bush and Treasury Secretary Henry M. Paulson Jr. said on Friday." End of Quote

Quote: "Mr. Paulson said Fannie Mae and Freddie Mac, which were recently taken under the federal government’s wing, would expand their purchases of mortgage-backed securities to help ease the problems." End of Quote

Link: https://www.nytimes.com/2008/09/20/business/economy/20paulson.html

[kthomp19]

Distinctly remember Paulson/Bush Admin announcement ordering GSE's to buy up all under-performing mortgage bonds in order to restore calmness to the housing markets. Was like Sept/Oct 2008 timeframe. VW short squeeze was happening about the same time.

Your memory does not constitute proof.

What appears to be the case is that you remembered this Bloomberg article. The problem is that the article had no evidence to support its claim, and Tim Howard was unable to find any evidence of the claim in FnF's own released documents.

Just because TH claims no record of it in the books doesn't mean it didn't happen. Many ways to skin a cat without it appearing in the books.

No, that just plain isn't true. Any Treasury-ordered purchase of mortgages would have to be in the books.

Face it: the forced toxic mortgage purchase narrative is a myth. It never happened. No amount of memories or feelings will change that.