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David Fiderer Profile picture
David Fiderer
@Ny1david
See also, https://t.co/h0fNo7naMs
May 29 • 46 tweets • 6 min read
1. Why have Fannie & Freddie been kept in conservatorship for 15 yrs? Because of demand for GSE "reform" based on an anti-GSE narrative used to distract away from the fatal flaws & institutionalized fraud of private label residential mortgage securitizations. An explainer 🧵 2. First, the business models of GSE securitizations and private label securitizations are antithetical. The GSEs retain and diversify all credit risk; the private label industry does the opposite.