“So Dem/rats broke all the rules that bankers had used for years and sooner rather than later we have lots of people who bought homes they could ill afford that should not have been there to begin with, not paying their mortgages and defaulting.”
Here’s a post I made the other day. It includes a link to a long article in Fortune from 2005 that has a lot of history on Freddie and Fannie:
I suspect that would be you, other FReeper FRiends and moi.
Here’s another article I found from 2005 and posted on the compilation thread:
Long article (from 2005), but a lot of history:
The Fall of Fannie Mae
This is not your ordinary accounting fraud. Yes, there’s the matter of $9 billion in overstated earnings. But the fight over Fannie is a nasty political showdown where everyone has his own agenda. And it’s not over yet.
By BETHANY MCLEAN
January 24, 2005
(FORTUNE Magazine)
http://money.cnn.com/magazines/fortune/fortune_archive/2005/01/24/8234040/index.htm
7 posted on Wednesday, September 17, 2008 10:02:21 AM by Seattle Conservative (God Bless and protect our troops and their CIC)
http://www.freerepublic.com/focus/f-news/2084407/posts
http://www.freerepublic.com/focus/news/2084338/posts?page=71#71
"Raines who overstated earnings by Fannie by 40% and profited some 90 mission," pretty much says it all.
More crooks that will go unpunished since they are part of the "chosen ones" entourage.