Tesa

Fannie Mae Plus Goldman Plus Tax Credits Plus U.S. Treasury Add Up to Big Mess

Basically these banks:

- have passed their losses to the public
- they have traded against worthless leverage assets that they have dumped on the public
- they have received a subsidy from public to prevent their collapse and in return they have rewarded their executives with bonuses

And now they want to extract more cash from public through :
- further tax subsidy and taking those collapsed assets
- To either sell them again back to the public through the back door or hold on to these assets and jack them up and profit from them.

It is obvious that privatizing Fannie and Freddy has been very costly for American public. There is no way that public ownership of mortgage business would have cost the American public this much losses over and over.

The mortgage vending that is virtually subsidized by the public should be removed from private banking because they use this business to dump their losses on public using multiple paths.