OnW

Fannie, Freddie: Who Benefited, Who Lost [Housing Tracker]

I still can't believe that the guys at F & F were buying these junk mortgages. Shouldn't they have known they were below standard?

The Government's Moral Hazard with Fannie and Freddie

Everybody is now aware of the mortgage mess and how it came about. I, not a trader but a long time buy-and-hold investor, depended on guidance by the expert analysts and rating services. I now wonder at the many levels of stupidity and/or irresponsibility that brought this about. The banks knowingly write fraudulent mortgages. They then sell these bombs to Fannie and Freddie. Don't F&F know that this is junk? Don't the rating services know how F&F operate? How can so many highly paid people/businesses be so stupid or careless? So a handful of overpaid execs lose their jobs and the miillions of innocent investors lose lifelong savings.