Fannie Mae, Freddie Mac ordered to consider crypto as an asset when buying mortgages

[ToxMarz]

14. What could go wrong!?

This is what caused the 2008 meltdown. Fannie Mae, Freddie Mac lobbied to be allowed to get in on the subprime lending (to increase transaction/profits, they had been privatized for-profit at this time) . $0 down payment, no income verification liar loans. Fannie Mae, Freddie Mac then mix them all together and sell them to big institutional lenders. Everything is tainted, and when the three legged stool toppled over, the whole system comes tumbling down. Fannie Mae, Freddie Mac are under conservatorship now because of 2008, but repukes are pushing to unleash them again. The billionaire class see this as a money making move, that the Govt will bail out when it fails AGAIN. In this case, the win for them is not just mortgage transactions, but in advancing/legitimizing their crypto ventures as well.

DOH!