$FNMA #FannieGate

How utterly unsurprising it is that when the directors of government agencies thirst for a way to lower the budget deficit that they go for the most profitable company in the world. Well, that's exactly what Ed Demarco did, anyway, at the expense of the American dream where you used to be able to own your home after you paid back more than what you borrowed. That was the idea anyway.

Even John Carney admits that the ROI is now in excess of the interest rate that we would have expected to have to pay on a 30 year mortgage, and in this case the payback was in only 5 years.

The way things are currently structured:

1. The g-fees are a tax on poor working-class Americans who cannot own their home outright and need to use the proceeds of a mortgage to own their home.

2. If you pay back more than you borrow on your home, you get to own 0% of it; and at the very most if you go to court and battle to get it back the very most anyone will agree that is rightfully yours is a mere 20%. My primary residence is Fannie Mae. Instead of plopping down $250,000 on a home to live in, I went for the jugular and bought into the most American counter cyclical home mortgage financing business, making home ownership possible for the rest of you and making mansion ownership possible for people with 20/20 vision that use it to see what is actually going on, and what is actually going on is people are giving me more than they are taking from me and they don't even know it, most of the time.

3. Most men have beards. I am not most men. I am a man, who makes the rich rules. As such, I sport a mane that says, "My eyes are up here."