Federal Appeals Court overturns Bank of America (Countrywide) ruling (wages, generations, ethics)

[PedroMartinez]

Originally Posted by le roi

It does matter how you look at it. There's a huge difference in saying, "The GSE's should not exist," and saying, "The GSE's caused the mortgage crisis."

1. The GSEs shouldn't exist.

2. Government policy, which includes the GSEs along with a whole lot of banking rules, did cause the crisis.

[WilliamSmyth]

Originally Posted by pknopp

The government is suppose to oversee and regulate all of this. No?

There was a movement at the time supported by both Republicans and Democrats to specifically not regulate the OTC derivative market place. There were a few brave soles like Brooksley Born who tried to point out the folly of not regulating OTC derivatives, but their voices were drowned out.

Since the financial collapse one of the few pieces of regulation that Democrats and Republicans could agree on was to roll back some of the regulation that was placed on OTC derivatives after the crash.

Trump has come out for repealing all the new regulations on OTC derivatives. I don't know where Clinton stands, but it wouldn't surprise me that she is also for weakening the regulations.

[PedroMartinez]

https://youtu.be/LPSDnGMzIdo

[InformedConsent]

Originally Posted by No_Recess

"Created money"?


It's all Mickey Mouse money. Use the promissory notes issued by the Fed or face the cage.


Just pointing out the redundancy of your statement.

Yes, "created money." Those with REAL money won't buy the GSE-issued MBS that have proven to be a joke, so the Federal Reserve has to buy them.

[InformedConsent]

Originally Posted by WilliamSmyth

The Federal Reserve lent money to the Maiden Lane LLC which bought the MBS.

So... post the holdings, like I posted the Federal Reserve's current $1.75+ Trillion worth of GSE-issued MBS holdings.

[WilliamSmyth]

Originally Posted by InformedConsent

Yes, "created money." Those with REAL money won't buy the GSE-issued MBS that have proven to be a joke, so the Federal Reserve has to buy them.

No one is buying them? How then does the trade volume reach 80 billion a day in agency MBS?

https://www.federalreserve.gov/econr...-20140131.html

MBS trading volume is many times larger than that observed in the corporate bond market.2 Daily MBS trading volume fluctuates between $10 and $80 billion per day while trading volume in a typical, U.S. corporate bond fluctuates between $15 and $40 million per day suggesting that MBS are much more liquid than U.S. corporate bonds.

[pknopp]

Originally Posted by Chance and Change

you got to be joking right???

Absolutely not and on top of that we will note that you said nothing to counter or dispute what I said.

[pknopp]

Originally Posted by InformedConsent

So... post the holdings, like I posted the Federal Reserve's current $1.75+ Trillion worth of GSE-issued MBS holdings.

Did you post where F&F was asking for fraudulent apps like you claimed and I asked to be verified for us?

[InformedConsent]

Originally Posted by WilliamSmyth

No one is buying them? How then does the trade volume reach 80 billion a day in agency MBS?

WHY does the Federal Reserve have $1.75+ Trillion worth of GSE-issued MBS on its balance sheet?

[InformedConsent]

Originally Posted by pknopp

Did you post where F&F was asking for fraudulent apps like you claimed and I asked to be verified for us?

Yes. I posted the year 2000 Fannie Mae document that explicitly stated the GSEs wanted to buy loans from their "best lenders" (Countrywide, etc.) made to those with no/compromised credit histories, etc., for their "Affordable Lending" programs.