Fannie and Freddie Get a Guarantee
Also endowment taxes, DJT and Gamestop Bitcoin treasuries and Bitcoin theft.
I’m sorry but this is a very funny way to do financial regulation:
For many years, Fannie and Freddie had what everyone referred to as “implicit guarantees” from the US government. Everyone, that is, except Fannie, Freddie, and the government. Because … I just … because if you say it’s a guarantee it’s not implicit? Like that’s what “implicit” means? And so every Fannie and Freddie mortgage-backed security offering said, right on the cover, that the securities were “not guaranteed by the United States and do not constitute a debt or obligation of the United States or any agency or instrumentality thereof.”