The problem is the Wall Street-Regulator revolving door fraternity. Wall Street guys go to Washington to regulate their brothers on Wall Street. The regulators lowered standards (derivative regulations, not holding banks accountable, etc., etc. etc) and the brothers on Wall Street make billions of dollars.
The Frat House of Cards almost fell as they got too greedy, and the Regulator brothers cooked a scheme to help their WS brothers.
1) Blame FnF for the problem, then take them over as a manipulative vehicle
2) Create TARP
3) Funnel money from Regulator brothers to WS brothers to save them from bankruptcy
4) Once banks are propped up and bankruptcy is avoided, have WS bro’s pay some of the money back to Regulator bro’s as “settlements without admitting wrongdoing”
5) Go back to business as usual
Regulator bro’s get rewarded for helping WS bro’s by getting an even bigger job back on Wall Street. Pick anyone of the players (frat bro’s) and investigate their current net worth.
The first three letters of Conservatorship is Con and that describes the whole scheme. Regulator brothers never intended to conserve FnF. Con-ship was just a manipulative tool that the WS-Reg fraternity brothers used to keep the golden goose alive.
Shareholders in FnF? Who are we? We’re not part of the cool fraternity. We’re the nerds that the “smarter, better looking, country-club” frat guys laugh at…
But wait, looks like someone likes us nerds:
“Senator Elizabeth Warren – Fannie and Freddie Did Not Cause The 2008 Economic Crisis”
Why Ms. Warren, you seem to be flirting with me…I am a lowly nerd…
Wait, I think Ms. Sweeney has her eye on me, too!