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Executive Sadman

Us Clowns Demand Another Housing Bubble.

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The head of the Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the deal Monday at a conference of the Mortgage Bankers Association in Las Vegas. FHFA Director Mel Watt said the deal clarifies conditions in which banks could be required to buy back mortgages they sell to Fannie and Freddie for misrepresenting the loans' risks.

How nice, a pre-lies agreement, we know you are going to misrepresent, i.e. lie to us, so we a re putting in place a clawback.

Banking the scummiest "profession" of them all.

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