Wall Street hearts Fannie Mae
Good article here in Bloomberg News concerning the pending bailout of Fannie Mae. It starts out with the rather typical cautionary tale of a borrower seduced by a sub-prime lender and her eventual rescue by her friendly government bank, but then proceeds to discuss, or at least touch upon, the various scandals, fraudulent accounting and other difficulties that have plagued this entity. Why does Jamie Diamon, head of JP Morgan Chase, love Fannie Mae? Why did Warren Buffet dump all his holdings of its stock three years ago? You really should explore some of the Wall Street Journal editorials that condemned Fannie Mae over the past decade for a full understanding but essentially, Jamie Diamon and his ilk could make a lot of money peddling crap and unloading it on Fannie Mae and Mr. Buffet has different standards. Of course, when you add in the cash contributions Fannie Mae made to Chris Dodd and his cronies over the years, it's hardly surprising that this fraud was permitted to operate for so long. And will continue to do so, apparently - just ask The Journal.
2 years ago
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5 comments:
It's Jamie Dimon, not Diamon.
Please 'Follow-Up' on Mr. 'Know-It-All'- Chris Dodd - 'VIP'Treatment -
Country Wide - and - if you can - please tell us which banks we should try to get our loans with - I heard one lady say she went to ten banks to get a loan - and nine of the ten - turned her down - and she had 'Good Credit'!
Thank you for your consideration Chris!
Yes - keep showing those 'over-priced homes' - :)
Well, I see someone got to you about the spelling of Mr. D's name, or is it "Dim-one"? Anyway, you forgot to mention the reasons all of this happened, it was those "fancy financial instruments" (do we mean 'mortgages' here?), and it was because the issuers of same were all "drunk..."(but rich)... Mary W
How often should realtors have an
'Realtors - Open - House ' Chris - and 'Public Open Houses' - It seems some have them more than others on their listed properties.
Seems a few are taking your advice and lowering their price on their homes - Chris - keep us posted if you see any 'large reductions' - esp in Old Greenwich - & Riverside - the 'High Rollers' are interesting - however - most are out of our price range!
I'm sure Mr. Dimon is a capital fellow however he spells his name. I'm less convinced that he has my tax payer interests at heart when he joins Dodd et als in whooping through a bailout for Fannie Mae.
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