Could someone explain to me how Barney Frank and Fannie Mae single handedly caused the housing fiasco when?

Answers:0   |   LastUpdateAt:2012-11-04 10:20:02  

Question
SunnyDee
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(1) Realtors made millions in commissions
(2) Mortgage brokers made millions by encouraging their clients to lie on applications and pushing loans they knew people couldn't pay back.
(3) Appraisers made millions by going along with the game and doing inflated appraisals.
(4) Wall Street made millions by packaging worthless securities and selling them to little of lady pension funds.
(5) Rating Agencies made millions by giving AAA ratings to junk securities.
(6) Wall Street and the National Association of Realtors bribed countless politicians to do their dirty work.

Could someone explain how all this can be blamed on Barney and Fannie?
Answer1Shivansh TomarAnswered at 2012-11-04 10:19:48
Not single handedly--but I don't believe most make that claim. However, Fannie and Freddie bought a lot of those securities for the sole purpose of having the taxpayer pick up the tab. Look up Franklin Raines and see what he is about. Then ask yourself why there is zero regulation on FNF in the new financial bill--just an endless petty cash fund at the expense of the American people. Even better is that FNF now owns 95% of mortgages. And that's not a "talking point", it's a fact. So....

While Barney was slamming everyone on regulation, he said FNF had no problems and there was no need for additional oversight. Franklin Raines paying himself fraudulent bonuses says otherwise. If you are going to defend Elmer Fudd, find something realistic. You might be looking for a while...
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