Wall Streeters want what Fannie's having

I posted this information a few months back. Bank of America brought Country Wide and is sitting on an enormous amount of property waiting for exactly what the author of this article is saying. Their is Billions of dollars in bundling loans and the big banks are trying to get a larger share at Fannie Mae's expense.

6.) Wall Streeters want what Fannie's having -- "Wells Fargo and some other large banks would like private companies, perhaps even themselves, to become the new housing finance giants helping to bundle individual mortgages into securities — that would be stamped with a government guarantee," reports the New York Times. Some big pigs have lined up at the federal trough: Wells Fargo, Morgan Stanley, Goldman Sachs and Credit Suisse have all publicly met with Treasury officials in hopes of being able to do what private student loan companies no longer can. While the Treasury has remained quiet about its plans, former Treasury undersecretary and Rubin protege Michael S. Barr has called it a bad move. “I don’t think that private shareholder-owned entities should issue federal government guarantees,” Barr said. “I think that creates the same conflict we had in the past.” You know something's up when a Rubinite speaks out against giving special treatment to Wall Street.