saluki65

Nationalizing Fannie and Freddie: Latest Move in the Housing Crisis

As a holder of $25k of Fannie Mae preferred I just got screwed. It was brought about by the local realtors, banks, mortgage brokers and the Wall Street 'financial engineers' who created the investment vehicles. Mortgages were given blindly without credit approvals, and standards. As a former credit mgr. for a Fortune 100 company I can assure I would have been fired for approving any such poor risk.

You can bet the amongst listed participants will never have to give their commisions and bonuses back for what they created. I can also assure you that my generations of investors will never investment in a GSE or Federal security as long as we live.