Replies to post #157792 on Fannie Mae-No Politics (FNMA)

[lumpina]

Also, what does "phasing out" FNMA & FMCC mean? details . . .

[obiterdictum]

Perhaps to reduce the amount of federal government involvement in banking. The proposed legislation is a kicking out of federal government influence and intervention in housing and banking.

This provision/statute would cause closings and withdrawals from insured accounts to meet the new standard ($250,000 to $150,000), reduce the number of FDIC insured accounts (individual and joint checking and savings, IRAs, employee benefits, revocable trusts, irrevocable trusts, government accounts..) and/or spread them across a larger number of banks. These would be the immediate effects.

[patoja76]

It seems that there has emerged a new political organization, should be called Republican National Association for the Destruction of the Country, judging for this REPEAL Act :-)

GoooooFnF!