risky wagers with their own money
HUD, FANNIE, FREDDIE, SALLIE should not exist to subsidize and guarantee risky wagers of anyone. Fixed it.
Your point is well taken. If they want to use non-depositor money, i.e. their own equity fine, but they can’t invest in federal government securities or pseudo businesses like Fannie. Take that equity and put it in the commercial economy, not lobbyist vulnerable ‘fakey’ or ‘fakish’ assets.