not even realize that we are being "Gamed"...
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by those better at it than U.S.
literally and figuratively.
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JGBellHimself
This man - Richard M. Kovacevich is the retired Chairman & CEO of Wells Fargo - having done so in 2009 - AFTER Wells bought Wichovia, and AFTER Wells was found guilty of bribing muni-bond sellers to buy their business. And HE thinks that we should now put all of our mortgage financing into his one basket?
Do NOT misunderstand him, what he really, truly wants is for Countrywide (aka Bank of America), WAMU (aka Chase) and Wichovia (aka his pension & stock in Wells) to not only "originate" most, if not all, RE mortgages; "service" (expletive deleted in the sp, maybe) most, if not all, RE mortgages; but now to also "securitize" all of our RE mortgages.
What he also want you to know is that you, too, will, like W did before, have to "bailout" his bank, and the rest of them "too big to fail", if they make too many bad RE loans, again.
What he also wants you to know is that, like his friend Jamie, he does not want any more - well, actually any at all - regulations by U.S. - not banking, not consumer protection, not securities fraud, not mortgage RESPA fraud, and no criminal responsibility for simple straight forward financial fraud.
He is too Far Right about one thing though - at the game of fraud, he and his friends are much better than we - the rest of U.S. - are.
"Yes we can!"..., trust him..., and not bother our silly little peoples heads, to "verify".
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JGBellHimself
You, too, may, permissive, find it odd - that while Execs of FMae&FMac were just charged by the SEC for "violations", that this Honorable Gentleman was not.
There is "No Think" that those "criminals" - to be proven later - did that this Honorable Gentleman's company did not also do.
With one minor exception - package very bad ARMs and subprime RE loans into "investment securities" to be sold to you.
That is what he now wishes for U.S. to give him - the legal right to do to U.S. what previously he could not.
Bcuz tis published in CNN it must be reasonable, must it not. What possible reason would CNN have to be a party to misleading U.S.?
Fannie and Freddie must go - here's how
http://money.cnn.com/2011/12/19/news/fannie_freddie/index.htm?iid=H_E_News
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