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  Topic: Federal government controlled 99.3
percent of mortgage market in 2012
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Federal government controlled 99.3
percent of mortgage market in 2012

Washington Examiner, by Conn Carroll

Original Article

Posted By:KarenJ1, 2/20/2013 11:17:28 AM

Fannie Mae, Freddie Mac, and Ginnie Mae, the three major Government Enterprises created to control the U.S. housing market, issued 99.3 percent of all mortgage backed securities (MBS) in 2012, according to Freddie Mac’s 2013 Investor Presentation. As recently as 2005 these government agencies backed just 45 percent of all mortgages issued in the United States, although they did purchase vast quantities of the mortgages backed by private issuers. Fannie Mae, created by President Roosevelt during the New Deal, and Freddie Mac, created by Congress in 1970, were both nominally private corporations before the housing bubble popped in 2008.

Comments:
At this point I don´t know how we ever put that genie back into the bottle. This is really disturbing. You will never hear a Democrat utter a word about the fact that they are the ones responsible for the economic collapse.

      


Post Reply  

Reply 1 - Posted by: otronome, 2/20/2013 11:28:53 AM     (No. 9186765)

"Market" and "Government controll of 93%"

There is no market. There is government power.

The savers are being robbed so the government´s favorites prosper. Who are the favored?

Deadbeats in homes they can´t afford or won´t pay for
The largest Banks who get free money for half a decade and counting (lending to business has fallen during this period)
Large coprtporations who can borrow 10 year money at 2%
Real Estate speculators who fund at a parent level and pay cash fo homes to then rent out - they represent 50% of buyers in many regional markets

There is no housing market. There is no student loan market. The "nudgers" seek utopia and every disaster due to their policies is resolved with usurping more power since it is the little people who do not respond to their superior judgement of what is good for them.

Remeber BHOnehead comment on the ISreailis not knowing what is in their own best interest? Same mentality at work.

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