Posted on 11/07/2009 9:11:04 AM PST by FromLori
I am SOOOOOOOOOOOOOOOO! freekin glad that I had no major stockholder position in Reeds Citigroup which has lost OVER 90% of its value. WOW what a self serving fraud.
and affiliates and were only partially subject to CRA. Only 25% of subprime loans were fully CRA regulated.
Yes, but Banks that wanted to compete with the Gov’t, had to issue loans at a MUCH lower interest rate say 3% to get individuals like myself(in 2001) who would otherwise have no choice but to take a Federal Loan, as opposed to pay 20% down for a conventional loan which was the norm in the past.
Fannie and Freddie guaranteed HALF of ALL U.S. mortgages, there’s no WAY that that DOES NOT set the tempo for the REST OF THE MARKET.
Sorry. I’m interested in other views but the math just does not add up to me.
I have no doubt GLB opened the flood gate to another level, but I don’t see how Fannie and Freddie did not set that MARKET by causing conventional loans to have to compete.
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