I want to be clear. I am not a fan of government interfering with business.
However, THIS IS NOT A BAILOUT!
I interpret this move by the FED as a national security issue that takes extreme measures in extreme circumstances.
This is not regulations or a bailout. This is modernizing an industry.
These are new rules to prevent predatory lending, fraudulent borrowing, regulating CMO's and other risky Wall Street investment vehicles, foreclosure prevention counseling.
These are moves to prevent a repeat of such events in the future.
The sustainability of Fannie Mae and Freddie Mac ensure the long-term viability of the mortgage and lending industry, the foundation of the real estate market and the lifeblood of our nation's economy
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