Federal government sues major banks over Fannie and Freddie losses

iVillage Member
Registered: 03-18-2000
Federal government sues major banks over Fannie and Freddie losses
3
Sat, 09-03-2011 - 9:08am

 


Photobucket&nbs

iVillage Member
Registered: 02-05-2011
I'd love to sit on a jury in this case. Our government was forcing banks to give bad loans. Now it's complaining that they did what they were forced to do. If possible, I'd find the government liable and order them to pay the banks for any losses.
iVillage Member
Registered: 03-18-2000
"pay the banks for any losses"

Didn't we already do this? ;)

 


Photobucket&nbs

iVillage Member
Registered: 02-05-2011
Not nearly enough. The TARP money was paid back, some banks were forced to take TARP, most didn't need it.

Banks were forced to take bad loans by government policy, they tried to move the risk to derivatives, and Fannie / Freddie (which wanted bad loans issued). Now the same government that forced banks to make bad loans, wants to sue them for making the loans they were forced to make.

I'd love to be on the jury (if there is one). My only concern would be howling laughter when the government argues it's case could get me booted.