So what was the actual value, all hassle and time involved, of those mortgage securities? Fifty cents on the dollar? If so, we’d be talking about $150 billion gifts to each of multiple major European banks.
If to ward off claims of fraud against Fannie and Freddie I’d think other, domestic investors could have filed such claims by now. If the American taxpayer is now responsible to make whole any losses or failure of any large bank worldwide, we might as well just shut down as a country. We’re done for.
We defend the entire world with our military, and we make good any business losses, worldwide.
And we think that we are an evil country and everyone is justified in hating us.
We are insane.