Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Role

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Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Role

Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Role

I think it’s time for the government to get the taxpayers as far away as possible from all these toxic assets. It has done nothing but aid the lenders in fraud.


Bloomberg-

A bipartisan group of U.S. senators is putting the final touches on a plan to liquidate Fannie Mae and Freddie Mac (FMCC) and replace them with a government reinsurer of mortgage securities behind private capital.

The proposed legislation, which could be introduced this month, would require private financiers to take a first-loss position adequate to cover price declines as steep as those seen during recessions over the past century, according to a draft obtained by Bloomberg News.

[BLOOMBERG]

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3 Responses to “Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Role”

  1. Wasn’t Fannie and Freddie suppose to be private and the tax payers bailed them out? This private entity appears to have been a shell game to turn tricks and pretend to enter notes into securities pools without the real notes. What is to prevent that again? Will all the records of proof of harm to us going to be destroyed with the fading out of Fannie and Freddie? The government goes in an does a receivership on all large banks and businesses. What is to keep them from doing it again? Is the private company owned by SORO”S? I have very little faith in anything our government does. It all has a purpose to screw the public somehow some way.

  2. No reason to feel other wise.

  3. Sarah says:

    Who are the Bankstas going to blame now? The Bankstas were working at, working with and running Fraudie and Frannie to begin with. TBTF decides who gets to fail.

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