- 19 марта 2014, 19:55
- Seeking Alpha. Most popular articles
In 2008, the United States was on the verge of stepping over and into a financial precipice so deep that the impacts on the world economy would have been devastating. This is something that has become common knowledge. Less known and somewhat unbelievable was the fact that some leaders on the international stage were rooting for the calamity to strike and strike hard. Hank Paulson, then Treasury Secretary in 2008, wrote about an encounter with a Chinese diplomat at the 2008 Beijing Olympics. He said that he was informed of a plot by the Russians to dump massive quantities of U.S.-backed bonds on the market. This action would have started the chain reaction that lead to the 2008 financial crisis. These bonds were implicitly guaranteed through Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC).
Through a series of laws passed by Congress, the implicit backing of the GSE mortgage
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