Mortgage Lenders (Bankers) are Upset Fannie Mae and Freddie Mac Won't Give Them a Bailout
Description: Mortgage Lenders here in the US are upset. The head of the Federal Housing Finance Agency Mark Calabria will not bow down to their demands of Fannie Mae and Freddie Mac giving them a bailout.
Both Fannie Mae and Freddie Mac were established to make home ownership more accessible to Americans, including those who wouldn’t normally be able to purchase a home without the Government backing mortgage debt. Not protect the interests of the lenders.
What put them in the position they are in was their double dipping on the paper they are holding. Instead of just collecting the debt off of it they decided to package it up into security backed investments as well. Investments that they have to continue to pay out on even with the economy on hold with the current pandemic. Which they are trying to portray will lead to another housing crisis like that of 2008 even though they are the only ones at risk of hardship due to their own greed.
In this video we take a look at the Legacy Media act as propagandists for mortgage lenders by pushing their sky is falling narrative of a housing crisis in order to instill fear in Americans so they can attack the Trump Administration.
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