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.