The Abuse of MBS: A Monster Bigger than the Federal Government
8 Pages Posted: 12 Dec 2015
Date Written: December 10, 2015
This paper differentiates the 2008 subprime crisis from its recent repetition. Both have people abusing MBS for profiteering, but now the crisis can be averted. The Federal Reserve, who has taken the place of Lehman Brothers, will never become insolvent. Though another subprime crisis is unlikely to happen, the cheating on the whole population is more serious. Fannie Mae is the ringleader of the fraud syndicate, and has created a monster bigger than the federal government.
Keywords: Central Bank, Fannie Mae, MBS, Subprime Mortgage, Fraud Syndicate
JEL Classification: E58, G21
Suggested Citation: Suggested Citation