Reply to Barney Frank is being quite candid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People like to say break up the banks because it is a simple solution they can understand.  It actually is neither possible nor desirable.  Better to focus on areas where there are almost no regulation but tons of money like shadow banking and off book assets, much of which is still related to mortgages . People don't like complexity but the financial world is indeed complex.  Pretending it isn't just leads to ineffective solutions.[/quote]

sorry the math for 30 year mortgages has been around for 400 to 500 years.

it is not that complex.  it hasn't changed that much.

any company could do it except regular companies can't borrow at the rates Fannie and Freddie can because of the gov guarantees.

[/quote]

Repeating the same simplistic solution over and over doesn't make it any more,appropriate, sorry.  Banks do a lot more than offer mortgages.[/quote]

every special interest screams and whines that change can't be done.

you are a great example for why we need to just get rid of existing politicians.   It is really not that hard.  Start with Mel Watts that wanted to bloat and increase the management scabs at Fannie and Freddie.

old news and finally rejected but good example of what goes on.

Over the objections of the Obama administration and key lawmakers, the CEOs of bailed-out housing giants Fannie Mae and Freddie Mac are getting massive pay raises, courtesy of the regulator appointed by President Obama himself. Federal Housing Finance Agency (FHFA) Mel Watt defended his decision to approve the pay hikes, which will raise the Fannie and Freddie CEOs’ pay from [b]$600,000 to $4 million, as vital to “promote CEO retention[/b], allow reliable succession planning and ensure the continuity, efficiency and stability” now that both companies have returned to financial health.

don't worry neither has left.  wasn't that important for retention after all.[/quote]

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