@USTREASURY #FANNIEGATE $FNMA
They say there's a moral obligation for homeowners to repay their mortgages yet they don't believe that applies to them.
This is true because it would follow that when a homeowner repays their mortgage they own their home, but in the case of Fannie and Freddie, who have paid back more than they have borrowed, they are subject to owning 0% of their home, and the media thinks that they only ought to be allowed to own 20% of their home.
If you buy a 1000 SQ FT house and borrow money and pay it all back in 5 years, does the government own 800 SQ FT of that house? Right now, the government thinks they own 1000 SQ FT.
you tell me
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Glen's Musings — AI, investing, and building things. Occasional. Free.
Glen Bradford
Investor · Builder · Writer
MBA from Purdue. Former hedge fund manager. Holds 26 series of Fannie Mae and Freddie Mac junior preferred stock. Built Cloud Nimbus for Salesforce consulting. Author of Act As If. Writes about investing, building things, and the longest financial fraud in American history.
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Read moreDisclaimer: This blog post reflects the author's personal opinions at the time of writing and is not financial, investment, or legal advice. Glen Bradford holds positions in securities discussed on this site. Past performance is not indicative of future results. Do your own research and consult qualified professionals before making investment decisions. Some content on this site was generated or edited with AI assistance.