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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (295991)3/11/2009 3:38:51 AM
From: Maurice Winn1 Recommendation  Respond to of 793895
 
Nadine, there were shareholders in Fannie and Freddie who lost their shirts. It was quite reasonable to think that those shareholders would wish to NOT lose all their money.

<Their risk went away when they sold the bad loans to Fannie and Freddie, who bought them no questions asked >

He was not shocked that gambling was going on. Higher interest rates are earned for carrying higher risk. That implies gambling. He was shocked that they seemed to take so little care of their risks.

Mqurice


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