Replies to post #142296 on Fannie Mae-No Politics (FNMA)

[Chief Slapaho]

Excellent find, Obit! Best piece in many weeks, and spot-on. Everyone should read this and hope this gets picked up by the media outlets.

[tetondon]

To be sure, the names Fannie and Freddie understandably trigger visceral skepticism from Americans who connect them with the housing bubble and recession. For years leading up to the market collapse, politicians like former Rep. Barney Frank (D-Mass.) exploited Fannie and Freddie to push their partisan social agenda, such as propagating subprime mortgages,

I didn't know Barney Frank ran HUD.

/sarcasm

[955]

Let the truth >>>FINALLY<<< be told:

"To be sure, the names Fannie and Freddie understandably trigger visceral skepticism from Americans who connect them with the housing bubble and recession. For years leading up to the market collapse, politicians like former Rep. Barney Frank (D-Mass.) exploited Fannie and Freddie to push their partisan social agenda, such as propagating subprime mortgages, while creating an implicit taxpayer backstop. In other words, politicians forced Fannie and Freddie to take risks, then hung taxpayers on the hook when the collapse occurred."

http://thehill.com/blogs/congress-blog/economy-budget/188712-proposed-bills-fail-to-fix-fannie-and-freddie


SEEMS THE POLITICIANS OWE US ONE IN LIEU OF PUNISHING US WITH CONSERVATORSHIP!!!

[nocluetrader]

Great article Obiteridctum. Thanks...