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To: xzins
I’m surprised that people are upset that Newt made money off of F&F>

No one cares about the money. Newt didn't tell the American people the truth about Fannie and Freddie. Instead he he tried to convince the American people that they were valuable institutions when he new otherwise. Whether he got money to do this makes no difference. He was not honest with the American people and it could very likely have contributed to the hundreds of billions in losses to our economy. Doing this only to make money makes it worse, not better.

32 posted on 12/19/2011 8:27:32 AM PST by Prokopton
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To: Prokopton

Fannie & Freddie were a business. They bought mortgages from banks/brokers. They wouldn’t have been able to do that if it weren’t economically viable for the banks/brokers to dump the mortgages. That way they didn’t have to service them all those years.

They had a market niche, and in that sense, they were valuable. I’ve probably had 4 mortgages in my life, and all except this most recent was sold. The small country bank I’m with right now likes to service their own.


33 posted on 12/19/2011 9:45:41 AM PST by xzins (Pray for Our Troops Remaining in Afghanistan, now that Iran Can Focus on Injuring Only Them)
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