Banks Likely To Pursue "Total War" In Fight Against The FHFA (Fanny & Freddy)

[Soul Crusher]

Banks Likely To Pursue "Total War" In Fight Against The FHFA
Joe Weisenthal | Sep. 6, 2011, 5:52 AM | 3,816 | 23


Intriguing note from POLITICO's Ben White today regarding the FHFA lawsuits against 17 banks.

[Morning Money] hears that instead of contemplating settlements of the FHFA mortgage-backed securities lawsuits, big banks and their attorneys are more likely to pursue what insiders describe as an all out war strategy in which they go after Fannie Mae and Freddie Mac (and by default their Democratic supporters) in a scorched earth strategy to show the GSE’s took an active role in creating the very securities they are now suing the banks over.

Seems hard to believe unless they really don't think they can settle for an affordable amount, in which case this is very ominous news.

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Read more: http://www.businessinsider.com/banks-may-go-for-total-war-in-fight-against-the-fhfa-2011-9#ixzz1XBn1QWVN



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This lawsuit by the Govt is a fucking joke.   A pathetic joke.  i hope the banks go after all these democrat dirtbags.   

[Straw Man]

Banks Likely To Pursue "Total War" In Fight Against The FHFA
Joe Weisenthal | Sep. 6, 2011, 5:52 AM | 3,816 | 23


Intriguing note from POLITICO's Ben White today regarding the FHFA lawsuits against 17 banks.

[Morning Money] hears that instead of contemplating settlements of the FHFA mortgage-backed securities lawsuits, big banks and their attorneys are more likely to pursue what insiders describe as an all out war strategy in which they go after Fannie Mae and Freddie Mac (and by default their Democratic supporters) in a scorched earth strategy to show the GSE’s took an active role in creating the very securities they are now suing the banks over.

Seems hard to believe unless they really don't think they can settle for an affordable amount, in which case this is very ominous news.

Please follow Clusterstock on Twitter and Facebook.
Follow Joe Weisenthal on Twitter.
Ask Joe A Question >
.

Read more: http://www.businessinsider.com/banks-may-go-for-total-war-in-fight-against-the-fhfa-2011-9#ixzz1XBn1QWVN



________________________ _____________________


This lawsuit by the Govt is a fucking joke.   A pathetic joke.  i hope the banks go after all these democrat dirtbags.   

LoL

now you're a fan of the banks

how soon before you tell use what good things Goldman Sachs is doing for us

[Soul Crusher]

No I am not a fan of them, but the govt pursuing the banks alone is a complete joke.     

[Soul Crusher]

Source: Reuters


General Electric Co (GE.N) said it would "vigorously contest" a lawsuit by the Federal Housing Finance Agency, which said the conglomerate's former WMC unit made inaccurate statements about the sale of two residential mortgage-backed securities.

GE was one of 17 large banks and financial institutions sued on Friday by the FHFA, which oversees Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), over losses on $200 billion of subprime bonds.

Fairfield, Connecticut-based GE said in a statement on Wednesday that the two transactions federal regulators are questioning amounted to $549 million and that $66 million in principal remain on them.

Read more: http://www.reuters.com/article/2011/09/07/us-usa-fhfa-l...