Forum Post: Check out what Kyle Bass says about Wall Street
Posted 12 years ago on Oct. 17, 2011, 5:37 p.m. EST by mystery
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http://video.cnbc.com/gallery/?video=1384391160
Fannie and Freddie Mac will lose $350-$450 billion dollars. They have capital of Fannie $890 billion FreddieMac $860 billion, why is taxpayer losing a dime? Why can't we force the losses onto shareholders and bondholders?
Because the U.S. government and Wall Street are more sensitive to capital flows from international organizations. China and Japan own a lot of FannieMae and FreddieMac debt. The US government and banks are being more sensitive to them losing money than the U.S. taxpayer - that has to change.
FannieMae and FreddieMac have paid $200 million into campaigns of 354 politicians in the last 10 years.
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