Replies to post #186295 on Fannie Mae-No Politics (FNMA)

[955]

That is why the focus of the lawsuits needs to be on the fraud & conspiracy committed against taxpayers/shareholders.

"Some lawmakers have said taxpayers are entitled to generous returns because the government agreed to accept nearly unlimited losses during the crisis, nursing the companies back to health. “I was a venture capitalist for a lot longer than I’ve been a politician. If I had put $180 billion into Fannie and Freddie back in 2009, I’d expect more than a 1 to 1 return on that,” said Sen. Mark Warner (D., Va.) at a conference last fall. “So once I got a 30-to-1 return…talk to me about Fannie and Freddie making money.”"



This is why the argument faces a somewhat uphill battle. People with this mentality are the ones who will fight this tooth and nail before just "giving it back" to the shareholders.

[Pugilista]

Well if that was their position maybe they should have documented it and signed it. But they didn't did they?

[bmp152]

That was an idiotic statement made by Warner, IMO. Venture capitalists often invest in start-ups or under capitalized companies with the potential for growth. They do not invest in multi-billion dollar enterprises that prop up ~20% of the nation's economy. Different investment mechanisms should expect differing levels of return. Did Warner really expect a 6 trillion dollar return on the initial 200B (debatable value) investment?

[mike_usa]

Haha.. is it the case with all the companies which have taken the help with TARP funding during the same time of 2008 & 2009. Why they haven't taken at least 1 to 1 profit with AIG, GM, Citi Bank and others . Why Fannie Mae and Freddie Mac are differently treated. Govt got about $22 billion profit ?? on funding of $180 billion ?? help to AIG. How much profit it got incase of $33 billion ?? of GM help ??

[trunkmonk]

Talk about the Fox guarding the Hen House. It takes a thief to know a robbery? what a maroon.

[snakedoctor1973]

Well when do they mail out the checks to the taxpayers? I"m going to use mine to buy some more shares, lol!