Bill Black on Franny

[hardnox604008]

http://neweconomicperspectives.blogspot.com/2011/12/fannie-and-freddie-fantasies.html

A long read for the weekend.

From probably the most credible authority on matters of financial fraud.  He hits Franny hard but also nails Wallison/Pinto for the fact that they appear to be just fine with massive CEO fraud in the private sector.

Thus as has always benn obvious, they are pretty much just political hacks seeking to divert attention from their bosses.

[bruce MN]

You and Mr. Black  (I'd read it earlier, as I do everything he writes that gets published somewhere) and everybody else knows that F % F were  sinister criminal operations set up exclusively by very liberal and thieving Democrats to allow inherently  unworthy people to take out loans for way, way more than the property being loaned on was ever going to be worth, whether they had any income or not!!!  These are just excuses.  I'm sure that the guy that GWB showered with at Yale and later put in to run Fannie was doing everything he could to clean the mess that  that  the Democrat Raines created up.

Case closed.

You must surely be familiar with the exhaustive work of Mr. R.. Santinelli and  Mr. R. 3020, are you not?

I'm sure glad that there is nothing like F&F out there involved in the purchase and holding of agricultural real estate.  We'd hate to see a bubble get inflated there.

[Samnospam]

F % F were  sinister criminal operations set up exclusively by very liberal and thieving Democrats

Finally, the light comes on!

Have you ever gone back and reviewed some of the people who made allot of money sitting on the boards of F&F for not doing much of anything?  Even an company man like yourself would get a bit skeptical.

[hardnox604008]

Fanny and Freddie were inherently corrupt. Let the chips fall as they may.

They were not the central players in the financial collapse. Private label mortgage bundlers were and Pinto, Wallison and the AEI  are political hacks who are charged with dragging a red herring over the trail behind their handlers.

[kraft-t]

It just amazes me that all those financial wizards that bought houses could outsmart all those innocent novice bankers.

[bruce MN]

Are you refering to helpless victims such as those described herein?:

http://abigailcfield.com/?p=623