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  • Comment Detail

  • Date: 09/17/21
    First Name: John
    Last Name: Chan
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AB17

  • Comment

    Fannie Mae and Freddie Mac (GSE) should have been released from government long time ago and let the private institutions to be responsible for their own actions not the taxpayers and/or government. GSE has been forced in conservatorship for over a decade for reasons of saving America mortgages. In fact, GSE did not cause the mortgage loan problems in 2008 and whenever (https://thetruthaboutfannieandfreddie.files.wordpress.com/2015/07/a-forensic-look-at-the-fannie-mae-bailout-parts-i-ii-iii.pdf a-forensic-look-at-the-fannie-mae-bailout-parts-i-ii-iii.pdf (wordpress.com) (Please also see the link that government sued those banks and won for GSE in courts https://www.valuewalk.com/2018/02/fannie-mae-fnma-freddie-mac-fmcc-hud/) Many police, firefighters, and teachers' retirement funds have been holding GSE stocks and those people just cannot retire on time, according to plan because in the name of saving America mortgages crises caused by commercial banks/loan institutions not GSE. Those caused and put GSE in conservatorship have recovered and/or retired, but not those holding the GSE stocks retirement plans’ holders.
    GSE is privately owned entities and government has no right/responsibility to take it over.
    2017 FSOC Annual Report - treasury.gov https://www.treasury.gov/initiatives/fsoc/studies-reports/Documents/FSOC_2017_Annual_Report.pdf
    GSEs are discussed on pages 15 and 40 of the report.
    Chart 4.5.7, on page 39, shows agency and non-agency RMBS Issuance.
    In the definitions section on page 148, Treasury recognizes the GSEs are privately owned entities.