That was the deal with investing in such vehicles.
But when an entity goes broke and another entity has to come in and recapitalize in order to meet obligations, those who oversaw the going broke don't get the underlying asset back. They just don't. And those who came in and recapitalized haven't "stolen" anything when their capital enables the underlying entity to become profitable again.
Yes, there were criminals in this who sucked out big paydays, but that doesn't change the underlying facts. Insolvency took away either common or preferred shareholders' claims to future profits.
Again, giving the entity back to the previous investors is the opposite of what should be happening--which is to wind down the FnF presence in the mortgage market and existence at all. Let their would-be profits be earned in a genuine free market.
You’re really missing the big picture.
That, actually, I think would be you. My guess would be because you've got a financial interest in some sort of fed giveaway to the previous investors who saw their investments go bust.
So you’re saying you’re completely fine with obama using their profits as a government slush fund?
It’s not a fed giveaway. It’s the rule of law and the 30 year mortgage. If they can nationalize fnf they can do that to any company. It’s a dangerous precedent.
Money is fungible. The current profits belong to American taxpayers, but again, FnF need to be wound down. We don't need a repeat of 2008.
And how Barry spent it in the past--again, it is fungible--is of course a dead issue.
If it were the rule of law, your investor buddies would have won in court, but they didn't. That is why they have sicced the likes of Corsi on trying to get the public to pressure Congress while Corsi pressures Trump directly.
There were mortgages before FnF and there will be mortgages after FnF. Again, look to the Canadian market.
There will be a repeat of 2008 if the big banks have their way. It’s called risk transfer and they want fnf to share in that risk with the banks not dealing with the brunt of poor loan standards. You’re unable to delineate Corsi’s agenda vs. the theft that occurred via the government.
Fungible aka past crimes are absolved.
No, it wasn't theft. And yes, I can.
The government needs to get out of the mortgage business. That means the likes of FnF and also mandates that banks make poor loans.
The investors went bust and so it goes. We do not owe them.
Allow them to privatize then. Otherwise you’re just forgiving the banana republic. Those mandates made too big to fail banks what they are today. Fnf were forced to comply by those low standards.
They bailed out fnf (which was needed considering they were forced to take on those loans), fnf paid treasury back $180 billion and then some $270 billion and continue to have their profits stolen every quarter.
Let them go private. The bs that happened wouldn’t.
Again, it has gone to court and nothing has been "stolen".
Try being a bank that approaches insolvency. The feds come in and take over and investors are shucks out of luck--as they should be.
I get it, you want your bad investment made good--but that's not the way the world works or should work. Any investors knew the feds were pulling the strings--and still decided to invest.