My wife used to do work for AIG in Receivables. Definitely crooked numbers coming from there.
In the post: "Fannie, as federally chartered institutions, have the implied faith and credit of the U.S. Treasury behind their debts."
And in the post: "Should Freddie or especially Fannie collapse, the cost to the U.S. economy would be massive - "
Not being any where near an expert - I need to ask a stupid question: Are you saying this organization has the power to bring down the U.S. Treasury - ? Or abuse it to the point where it would damage the country? If so - another question would be: Who would be responsible for seeing that the government wouldn't get in this kind of trouble, so to speak - ? Who let it get to the point where it is - ?
Just wondering -