Now I know why GSE's weren't included in Financial Reform Bill

[CrusaderFrank]

American Banker (you have to be a subscriber to get the article) just ran a story that Fannie, Freddie, and Ginnie at Nearly 100% Market Share of the US mortgage market!

100%!

Leading up to the meltdown they were at about 50%

Obama controls the US residential mortgage market

Now do you get it?

Couple that with ObamaCare and we have arrived at Neo-National Socialism

Obama: I own your mortgage and I'm your doctor. I am God's partner in matter of your Life and Death

 

[william the wie]

The GOP can't defeat Obama no one trusts them. Lucky for them they have an ace up their sleeves with the initials, BHO, the greatest attack ad generator in history.

 

[Oddball]

 

[CrusaderFrank]

So, the Federal Government totally controls the residential mortgage market...yawn.

Unfuckingbelieveable

 

[Toro]

Why is this a surprise? Ginnie Mae and the GSEs have been at least 90% of the market since Lehman collapsed.

Banks aren't lending anything. They are hoarding money. They'd rather buy US T-bonds earning 3.5% than lend to a risky credit at 9%.

 

[CrusaderFrank]

Why is this a surprise? Ginnie Mae and the GSEs have been at least 90% of the market since Lehman collapsed.

Banks aren't lending anything. They are hoarding money. They'd rather buy US T-bonds earning 3.5% than lend to a risky credit at 9%.

I know it's intentional and that the Fed is encouraging banks to not lend. I was just surprised that there is no longer a private residential mortgage market.

No big deal.