Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Brumar89 who wrote (419102)	9/23/2008 11:31:50 AM
From: tejek	1 Recommendation Read Replies (1) of 1574482

FNM and FRE are a SMALL part of the problem. Gee. The thing about FNM and FRE is not just their own failure, which is big, but they were the big marketer of securitized mortgages to others institutions. Look...FRE and FNM played in the secondary market. They were not the originators of the loans nor the packagers of the CDOs. Their crime was failing to do their due diligence. However they were not the criminals......the criminals were the real estage agents, the lenders [banks] etc who created the loans and then the WS types who packaged them into CDOs and other derivatives.

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