posted on Oct, 12 2011 @ 06:53 PM
Got the October issue of Forbes in today and read an intresting article by Steve Forbes on his opinion on correcting the houing market. Frankly I
could care less about the housing market, though it is part of the problem..the main concern should be the economy as a whole. Thats another thread
is the link to the full article.
• Drop the damaging lawsuits Fannie Mae and Freddie Mac filed against banks for alleged wrongdoing in underwriting packages of mortgages during the
housing mania more than five years ago. This was less a crime than multitudinous stupidity. Let banks focus on the future instead of spending their
efforts and capital on fighting government shakedowns. If banks are to be held criminally liable for what happened, then the biggest culprits of
all—the easy-money Federal Reserve and the government-sanctioned monopolies, Fannie and Freddie—should be headed (pun intended) for the
So whats it going to be? One or both? They are all guilty and should be punished equaly. Drop the suits..never..let them eat each other up in the
political madness. Just my opinion though. Enjoy the article.