2012-09-20ritholtz.com

``Fannie Mae agreed to pay Bank of America Corp about 20 percent more than it was contractually obligated to last year in order to transfer the servicing of troubled loans to another firm, a report by a watchdog found... Here's the thing: This was no accident -- it was by design. Starting with Bush, and continuing with Obama, the GSE takeover was an easy way to continue funneling money to banks with minimal scrutiny...'''


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