Fannie bail out was for China
Related
Fannie and Freddie Own 44% Of Foreclosed Homes
Bernanke May Sound Tougher to Avert Fed Rebellion
Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth
If you wondered who the Fannie bail out was for, wonder no longer…
Published b yMorgan
at August 5, 2008 in Economy, Mortgage Musings and Mortgage News/Insight. Tags: No Tags.
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I’ve said numerous times that the main reason for bailing out the mortgage giants Fannie Mae and Freddie Mac was not for the US homeowner but for the Chinese who have bought a huge portion of our mortgage backed debt. By letting the GSEs go under the US government would have defaulted on a huge promise to its number one pimp partner who has helped fuel this massive expansion in credit and debt.
Bloomberg now has an article confirming that there were high-level talks between the US Treasury Secretary Hank Paulson, Fannie Mae CEO Mudd and Asian investors who hold a bulk of this debt. When you think of the homeowner bail out, remember, $300 billion was earmarked for American citizens. The rest of the near $2 trillion will go to securing our partners cash flow in to our country.
--MORE--
Fannie and Freddie Own 44% Of Foreclosed Homes
Bernanke May Sound Tougher to Avert Fed Rebellion
Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth
If you wondered who the Fannie bail out was for, wonder no longer…
Published b yMorgan
at August 5, 2008 in Economy, Mortgage Musings and Mortgage News/Insight. Tags: No Tags.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
I’ve said numerous times that the main reason for bailing out the mortgage giants Fannie Mae and Freddie Mac was not for the US homeowner but for the Chinese who have bought a huge portion of our mortgage backed debt. By letting the GSEs go under the US government would have defaulted on a huge promise to its number one pimp partner who has helped fuel this massive expansion in credit and debt.
Bloomberg now has an article confirming that there were high-level talks between the US Treasury Secretary Hank Paulson, Fannie Mae CEO Mudd and Asian investors who hold a bulk of this debt. When you think of the homeowner bail out, remember, $300 billion was earmarked for American citizens. The rest of the near $2 trillion will go to securing our partners cash flow in to our country.
--MORE--