Here's Something I Hope The Next SecTreas Does

[g5000]

I was surprised to learn a few days ago the GSEs Fannie Mae and Freddie Mac are still in conservatorship.

They were placed in conservatorship in the wake of the Great Recession, and despite having paid back their aid money, plus interest, by 2017, they are still in captivity.

It may surprise you to hear Fannie Mae is the largest company in the US, and it is the 15th most profitable.

Here's the thing.

Fannie and Freddie are hostage to the Federal Housing Finance Agency (FHFA) and their profits are used for political purposes since they have no independence.

Nor are they able to focus on expanding the secondary mortgage market, and this is a significant factor in the current high mortgage rates.

In short, these GSEs are 100 percent government controlled and are being exploited.

It is my hope President Trump's Secretary of the Treasury will release them from bondage and return them to their original private, publicly-traded, roots.

There is absolutely no reason they should still be in conservatorship and being used as ATMs for the Treasury Department.

After 15 Years, the Federal Government Should End its Conservatorship of Fannie Mae and Freddie Mac

A lot has changed in the 15 years that Fannie Mae and Freddie Mac have been in federal conservatorship, including a restoration of the health of the mortgage market and the financial strength of these housing-focused enterprises.

www.icba.org

Fannie Mae - Wikipedia

en.wikipedia.org

Freddie Mac - Wikipedia

en.wikipedia.org

Federal Housing Finance Agency - Wikipedia

en.wikipedia.org

 

[Doc7505]

I was surprised to learn a few days ago the GSEs Fannie Mae and Freddie Mac are still in conservatorship.

They were placed in conservatorship in the wake of the Great Recession, and despite having paid back their aid money, plus interest, by 2017, they are still in captivity.

It may surprise you to hear Fannie Mae is the largest company in the US, and it is the 15th most profitable.

Here's the thing.

Fannie and Freddie are hostage to the Federal Housing Finance Agency (FHFA) and their profits are used for political purposes since they have no independence.

Nor are they able to focus on expanding the secondary mortgage market, and this is a significant factor in the current high mortgage rates.

In short, these GSEs are 100 percent government controlled and are being exploited.

It is my hope President Trump's Secretary of the Treasury will release them from bondage and return them to their original private, publicly-traded, roots.

There is absolutely no reason they should still be in conservatorship and being used as ATMs for the Treasury Department.

After 15 Years, the Federal Government Should End its Conservatorship of Fannie Mae and Freddie Mac

A lot has changed in the 15 years that Fannie Mae and Freddie Mac have been in federal conservatorship, including a restoration of the health of the mortgage market and the financial strength of these housing-focused enterprises.

www.icba.org

Fannie Mae - Wikipedia

en.wikipedia.org

Freddie Mac - Wikipedia

en.wikipedia.org

Federal Housing Finance Agency - Wikipedia

en.wikipedia.org

~~~~~~
Indeed, surely Neo-Marxist Democrats have benefitted from noth Freddie and Dannie all these years. Key Democrats have become millionaires and the DNC is continually flush with money. Barney Frank and Andrew Cuomo as examples.
We can all thank Bill Clinton for this...

The Seeds of Crisis: What Really Caused the 2008 Financial Crash - History Tools

The 2008 financial crash was one of the most significant events in modern history for global financial markets, sparking massive bailouts of banks by...

www.historytools.org

**********​

Barney Frank Used Influence with Fannie Mae, the Failed Mortgage Giant Bailed Out by Taxpayers - Competitive Enterprise Institute

Former House Banking Committee Chairman Barney Frank (D-Mass.) tenaciously opposed efforts to reform Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that were bailed out at a cost to taxpayers of between $148 billion and $363 billion. Now it turns out that he got his...

cei.org

 

[g5000]

~~~~~~
A\Indeed, surely Neo-Marxist Democrats have benefitted from noth Freddie and Dannie all these years.

Actually, members of both parties made a killing off the GSEs.

Hell, Newt Gingrich himself earned a paycheck from them.

Newt couldn't get enough of GSEs. In 2007, he even stated we need MOAR GSEs.

After the crash, he pretended he was always against them. And no one caught on.

Nevertheless, the GSEs perform a very valuable function, making housing accessible to millions of Americans.

During the crash, they were forced to buy the toxic waste of a lot of zombie banks and imploded as a result.

They have since sued many of those banks and recovered some of the lost funds.

For a long time now, they have been turning a very tidy profit. Profit, which instead of going to shareholders, goes to the Treasury to be used by politicians for things entirely unrelated to housing.

 

[kyzr]

I hope DOGE kills them.

 

[g5000]

Doc7505, you are one of those cowards who marks my posts with "Fake News" when you don't like something you hear.

It's the chickenshit version of, 'Nuh-uh!"

Fannie, Freddie tentacles embraced many in Washington

Gingrich was just one of a lengthy list of political power brokers with close ties to Congress and Republican and Democratic administrations hired by Fannie and Freddie as either board members, senior executives, lobbyists or consultants.