Ousted Fannie Mae CFO Timothy Howard: "the 'GSE model' for the secondary mortgage market was not flawed..."It was sabotaged."

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Ousted Fannie Mae CFO Timothy Howard: “the ‘GSE model’ for the secondary mortgage market was not flawed…”It was sabotaged.”

Ousted Fannie Mae CFO Timothy Howard:  “the ‘GSE model’ for the secondary mortgage market was not flawed…”It was sabotaged.”

I bet his book will be interesting…


American Banker-

An overhaul of Fannie Mae and Freddie Mac continues to draw chatter in Washington, prompting a number of people to break long-held silence on the legacy of the government-sponsored enterprises.

Adding his voice to the conversation is former Fannie Mae CFO Timothy Howard, who was ousted in late 2004 along with then-CEO Franklin Raines. Howard, who spent 15 of his 22 years at Fannie Mae running its mortgage investment portfolio, is releasing a book Dec. 2, “The Mortgage Wars,” to present his view of what burst the housing bubble and created the 2008 financial crisis.

[AMERICAN BANKER]

image: American Banker

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One Response to “Ousted Fannie Mae CFO Timothy Howard: “the ‘GSE model’ for the secondary mortgage market was not flawed…”It was sabotaged.””

  1. Sarah says:

    Will he blame the Banks, American Bankster?

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