Replies to post #201566 on Fannie Mae-No Politics (FNMA)

[lumpina]

Thomas Jefferson: I invite everyone interested to read Jon Meachem's Pulitzer Prize biography of one of our great thinkers in American History.

[955]

Even today, there are few references in the media to the number of NTMs [Non-Traditional Mortgages] that
had accumulated in the U.S. financial system before the meltdown began. Yet this is
by far the most important fact about the financial crisis. None of the other factors
offered by the Commission majority to explain the crisis—lack of regulation, poor
regulatory and risk management foresight, Wall Street greed and compensation
policies, systemic risk caused by credit default swaps, excessive liquidity and easy
credit—do so as plausibly as the failure of a large percentage of the 27 million NTMs
that existed in the financial system in 2007.

p. 465, FCIC Report, http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

[chalmer]

955...The question to ask yourself is who works for who?

Does gov work for the people or for the bankers? I know the answer to that question. Clearly a conflict of interest, would you say? So to split up FnF to end up in banker hands is serving who's interest?

FnF were not exactly saints either but with some regulation, as well with the banks and ending the Federal Reserve with the treasury and congress doing their jobs, we would be fine.

I see this as another grab for money & power.