CrusaderFrank
Diamond Member
- May 20, 2009
- 148,628
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Banks are deregulated? Really?
Does that mean Fannie and Freddie weren't handing out de facto AAA rating to No Income No Asset Loans?
Fannie and Freddie are not banks. The did not originate loans. To my knowledge, they didn't engage in any rating services. In fact, their standards were higher and more strict than those in the private sector.
Idiot.
Their standards were the WORST! They set the ever decreasing standard for the paper they would buy until they arrived at No Income No Asset and banks HAD to supply F/F with the paper.
What an idiot you are.
Wrong in the trillions column.