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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (256338)6/23/2010 6:15:13 PM
From: KayakerRead Replies (2) of 306849
 
Fannie Screws The Citizens Twice
Karl Denninger

First, Fannie Mae ran crooked books for years, got caught, ran insane risk models for years more (80:1 leverage anyone?), got caught again, the second time by the market and essentially forced the government to step in lest they default on over $3 trillion in paper sold to, in large part, the Chinese.

Now, having screwed you, the taxpayer, through outright fraud and ridiculous risk-taking and being a prime architect of the housing bubble, they now propose to bend you over again:

7ax.de
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