User Clip: Congress and lobbyists were complicit in GSE accounting fraud
CONGRESS PROTECTED FANNIE AND FREDDIE EXECUTIVES WHO WERE COOKING THE BOOKS
- 4 minutes
- 51 views
CONGRESS PROTECTED FANNIE AND FREDDIE EXECUTIVES WHO WERE COOKING THE BOOKS
TOO BIG TO FAIL BANKS ARE GSE's, HOW DID THAT WORK OUT FOR TAXPAYERS? WALL STREET SOCIALISM COULD BANKRUPT AMERICA.
THIS DEMONSTRATES CRIMINAL NEGLIGENCE BY BIPARTISAN LEADERS.
The President and bipartisan leaders were warned about the systemic risk in 2003, but they chose to cover it up. In 2008, when Fannie Mae collapsed, 6.3 TRILLION of toxic assets and liabilit…
BAD LOANS WERE TREATED AS PERFORMING LOANS TO PROP UP EXECUTIVE BONUSES
THE COLLAPSE OF FANNIE AND FREDDIE WAS CAUSED BY GREED, NOT THE MISSION TO PROVIDE AFFORDABLE HOUSING
SUBPRIME RISKS WERE DRIVEN BY GREED, NOT AFFORDABLE HOUSING
TREASURY OFFICIAL SAYS FANNIE AND FREDDIE'S TOXIC "ASSETS" WOULD DOUBLE THE NATIONAL DEBT