2. BO was not a socialist overall and not a socialist here with F and F (He believed in a large GOV role in the economy via regulation and incentives and such but not OWNERSHIP of enterprises --- which is a hallmark of Socialism)
3. Indeed - my view (my memory of what I heard and saw) --- is that BO wanted a more competitive MBS Real Estate Market. He did not want to nationalize F and F and have one place !! Rather the opposite - more competition. - more efficient free market. He seemed to make it clear he wanted to small down F and F (say cut their market share by 50%) and expected that others would then enter and compete in better ways than the PLMBS market of pre 2008. It did not work and along the way IMO he TOOK (a takings) - F and F without compensation .
How courts do not see the NWS as a taking is still beyond me
My guess is that Paulson needed someone to buy all the crappy private label mbs from the big banks, of course just a guess. I still want to know what happened in the room that night. You can’t just walk in and steal a company. So either the GSE’s were really in trouble or Paulson made deals, maybe threats, with the board of directors at the GSE’s. I’d love to hear the boards comments on this.
My guess is that Paulson needed someone to buy all the crappy private label mbs from the big banks, of course just a guess. I still want to know what happened in the room that night. You can’t just walk in and steal a company. So either the GSE’s were really in trouble or Paulson made deals, maybe threats, with the board of directors at the GSE’s. I’d love to hear the boards comments on this.
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