Christian Louboutin-pumps-outlet-Major US Banks

A major player in the banking industry and one-time federal bank examiner, Paul Miller, has called on the US federal government to stop punishing banks. In his letter he said one major US bank stands to lose anywhere from 60-120 billion dollars from repurchase losses. christian louboutin-pumps-outlet Repurchase losses are losses banks may have to incur if federal regulators at Fannie Mae and Freddie Mac discover ambiguous and fraudulent documentation of borrowers' income. Fannie Mae and Freddie Mac are the largest mortgage loan security backers in the country. Both megabanks allege that 17 smaller banks sold bunk mortgage-backed securities totaling about 196 billion dollars. christian louboutin outlet Fannie Mae and Freddie Mac are publicly traded, and the US government has a huge stake in both securities companies. Both companies claim to be "acting in their own self-interest" by legally pursuing smaller banks in the hope of recovering huge financial losses via the repurchase option. Christian outlet Many big, privately held banks and lenders use Fannie and Freddie to insulate their investments and this allows them to extend more credit. Many financial experts have insisted that a decision by regulators would gut the banks and present another serious roadblock to US economic recovery. Some financial experts see this as a political response to the negative populist opinion of banks, which received huge taxpayer support in the form of a bailout only a few years ago. Pumps outlet