Brown said eliminating Fannie and Freddie may not be necessary. Hedge funds have lobbied Congress to re-capitalize the companies instead of winding them down.
“That this isn’t as broken as it was, or it isn’t as broken as people think it is, doesn’t mean we defend it, doesn’t mean we don’t improve it, but we don’t do something so complicated,” Brown said.
From what I understood he said banks consisted from 16% to over 60% of the GDP, he knows the bill would raise that 60%, and he thinks that 60% should be lower, banks should have less part in the GDP, which makes sense.
Sentiment: Strong Buy
Do you remember when Walrat refused to rule on JPM having to return the $4B cash to WAMU b/c she said she would not put JPM in jeopardy of BK? I fear that if Sweeney is anything in this direction, she too will duck and weave to avoid the chaotic cascade it would cause to go ahead and bust this open, reveal all the rot and start, FOR ONE, making these criminal A-HOLES pay.
I do not know his motives but after listening to the interview he is echoing the thoughts of most of the realtors and appraisers I know,,, even most in the mortgage business.... people working in the industry are saying "Hey we have had major reform already",, credit is pretty tight,,, if you tighten it up more you might just torpedo the whole economy again,,,, tread lightly!
We in Ohio have been dealing with this thug for some 30 years and he and his cronies have placed Ohio on the pass by list of states .Maybe he has changed his spots ? I think he is up for reelection and is trying to garner votes ? About time he starts doing the right things ? I'm not counting on him though ?