The Subtle Nationalization of the Banks and Housing Market – How the Taxpayers Support the Banks through Pseudo Nationalization. We Own the Financial

I was amazed at how many people got all worked up when the idea of nationalizing the banks came up. These people fail to pay attention to the fact that we’ve already nationalized Fannie Mae and Freddie Mac and these two giants essentially hold up the entire edifice of the secondary mortgage market. But no one in their right mind is buying those risky mortgage backed securities anymore right? Well we have a program for that too with the Federal Reserve nearing its stated buying cap of $1.25 trillion in mortgage backed securities. In other words, we’ve already nationalized the mortgage market except unlike nationalization, we get the worst junk pushed to taxpayers while the banks enjoy record profits and nothing really fundamentally changes. (more)