Victoria Heller [EMAIL PROTECTED]> wrote:
/non- Mpls prefatory rhetoric snipped /
> Local commentary.....
>
> Not only did Fannie enable several BAD DEALS to occur in Minneapolis (like
> Riverside Plaza and Stone Arch Apartments) but one out of every five home
> mortgages has been purchased by Fannie Mae, bundled with others, and sold as
> bonds to foreign investors.
Yes ... and to other US investors. Are you suggesting we limit sale of these
only to US citizens and firms?
It's also known as the secondary market and is largely credited with sustaining
the housing market and keeping US home ownership. IMO this is not a "bad deal"
nor is it the root of the problem with FNMA. But it is a nice scare tactic to
use when the audience mmay not know much about the topic.
The contents of the original post are skewed far afield ... I'll resist the
temptation to respond further since it's the too-typical dilemma that somebody
posts cockamanie information here that's not local and followup discussion is
out-of-bounds. If Ms. Heller takes her post to the National forum, more could
be addressed.
> So Minneapolis should go on the offensive - start suing those who stole our
> money.
>
> #1 - Real estate developers
> #2 - Fannie Mae and other corporate crooks like Target
> #3 - Standard & Poors, Moody's and Fitch
At last – some content which is truly specific to Minneapolis. What would be
the basis for litigation against these three sets of "crooks?"
Rick Mons
Tanglewood - Shoreview
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