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Politics : President Barack Obama
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To: Bread Upon The Water who wrote (34087)9/21/2008 11:00:53 PM
From: LLCF  Read Replies (1) of 149317
 
<If those guys (Freddie & Fannie) hadn't bought the loans or said they would stop lending to banks who made them they, the loans, wouldn't have happened.>

That's right. Although plenty of loans were being bought by others in the market. Also, the government knew FNM was a big mortgage buyer... that IS their job, and yet they deregulated the entire business! Remember this is taking down giants with much larger market caps overall.... Obviously it goes WAY beyond FNM.

DAK
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