Friday, December 19

Smoking Gun: FannieMae Knew Exactly What it Was Doing

So, it's one thing to think that our country's major financial institutions pursued flawed lending strategies because they did not understand the risks.  It's another if they pursued those strategies knowing that they were increasing the risk profiles to unacceptable levels.  That would be criminal, right?
Wait until you read this PowerPoint presentation.  I've seen something like this for a long time as it's your standard executive board briefing on the state of a business.  And this one is actually very well done.  And that is exactly the problem.  The executives at FannieMae knew what they were doing and did it anyway.
Is anyone listening?  Has our governmental and regulatory system gone insane?  Are we becoming a puppet third-world society?  Unfortunately, the evidence is adding up to one answer:  Yes, yes and yes.
Here's the presentation.

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