Trump, speaking Friday at a conference hosted by the National Assn. of Realtors, said that the mortgage giants lack competition, that taxpayers remain on the hook for any losses at the companies and that they aren’t being run as well as they could be. He added that his administration is discussing ideas for fixing Fannie and Freddie with “some incredible talent from Wall Street.
What to do with Fannie and Freddie, which backstop about $5 trillion of mortgage securities, is the main unresolved issue from the financial crisis more than a decade ago. The companies were taken over in 2008 as the housing market cratered and were sustained by a taxpayer bailout. They have since returned to profitability and paid dividends to the Treasury totaling $105 billion more than they received.
A good article. One thing that's lacking in the President's proposal is any details! The thing that's so hard here is that it's now a regular source of revenue for the govt. What politician would really give that up, even if it's for the best.
He doesn't think Congress is above the level of a page ! he's such a phony every day after day !
Ssssuper Republican to the corporate rescueeee... join us next time when he introduces... more “tax cuts!”
That is probably one of the least urgent problems America faces. It wouldn’t even make my top 50.
So y’all can screw over more poor people. This is how we had the housing market bust some tears ago.
Congress will not bend over backward to work with him on anything. So, let's hope he threatens to hold his breath until it gets done. We could use the break.
Did Trump forget what happened to Frannie and Freddie in the first place?
do you think he believes they're a real girl and boy?
'directed the Treasury Department and the Department of Housing and Urban Development to write plans for reform.' Good thing that Andrew Cuomo is no longer Sec of HUD (was for Clinton). . . the Father of the Housing bubble and subprime crisis which led us to the Great Recession.
Einstein said the definition of insanity is repeating the same thing and expecting a different result... Deregulation and lack of oversight ('freeing') Fannie Mae and Freddie Mace created the worst financial crisis since the Depression. Crashing world markets again, for Putin?
What could go wrong?
This is the same thing Bush tried to do just before the big crash. Had he succeeded there would be no Fannie Mae or Freddie Mac anymore.
President Trump said freeing investment bankers from Fannie Mae and Freddie Mac from regulation is a “pretty urgent problem” that his administration plans to work with his Trumped Up Congress to address.
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