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What Happened to Fannie Mae?
Like every other third party mortgage investor on the planet, Fannie Mae has had a rough time lately. When Wall Street finally stopped buying sub-prime loans, Fannie Mae found themselves holding millions of unsellable mortgages. Essentially they were left holding the bag.
Was it greed that created this situation?
That is too easy of an answer. The truth is the system was set up for people who are responsible for the increase in the value of a company, to keep up with their investors desires for ever growing profits as compared to their competition.
In other words, they have to keep up with the “Jones’” or their companies will lose share value, their investors (you and me) will lose their investment in the company and the executives will lose their jobs for not satisfying the company mandate of growth or shareholder value.
Essentially, Fannie Mae business decisions were driven purely out of a motive for profits.
The CEO of Fannie Mae had to keep up with the CEOs of Freddie Mac and all the other smaller mortgage investors or the world would have stopped working in their view. It was either “grow profits at all costs” or they believed they would ... more

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