Fannie and Freddie got shut down after the Morgan Stanley report revealed that both were WAY undercapitalized.
Syron, the CEO of Freddie, promised to raise billions of dollars of capital, didn’t, but then had the nerve to post it as CAPITAL! He then used to the increase in (bogus) capital to raise the retained portfolio by 20%!!!!!!
This meltdown is the fault of Carter and Clinton’s Community Reinvestment Act and Fannie and Freddie. Obama should be lose the election because of his scummy friends.
We should accept nothing less than arrests and convictions for this fraud of the American taxpayer and public at large.
What these people have done is nothing less than what Enron did with their accounting.
Nobody is worth 40 million dollars in bonuses on a $900k salary.
ARREST AND CONVICTIONS! Bush had nothing to do with this corruption. So go get them. And if the feds don’t arrest the crooks, I say we have a public lynching.