This will be one of several posts on the future of Fannie Mae and Freddie Mac. Your thoughts and your owns stories are welcome in the comments section.
Nearly a decade ago, in September 2008, US Treasury Chief Hank Paulson unveiled his historic government takeover of twin mortgage buyers, putting the government in charge of the mortgage giants and the $5 trillion in home loans they back. The plan eliminated the top executives which were out and replaced with Wall Street titans.
The House Oversight and Government Reform Committee held a hearing on the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal government and their role in the financial crisis. The video below is a 4 hour review of a planned response to the crisis in the housing and mortgage markets at the time of the economic meltdown and crash of 2008.
The titans that replaced Freddie CEO Richard Syron and Fannie CEO Daniel Mudd were two Wall Street finance veterans and were charged with restoring the mortgage magnates to health. Herb Allison formerly served as president of Merrill Lynch was Continue reading →
How many people have to lose their savings, their equity and their pensions before there is a revolution – or is the intellectual revolution already here – “refuge to reconstruction”? That is the $54 Billion dollar question.
One man’s wealth tax becomes another man’s wealth confiscation
I have no doubt that given the need for sources of revenue by Uncle Sam and other sovereign governments, the topic of “the protection of property rights” will be increasingly brought front and center in the public arena.