I am an old cynic and generally assume the darkest motives. But the timing of F/F to start their buy back programs in March and April at precisely the same time that the Fed is “finished” with its business is no coincidence. It was planned and coordinated months ago. This is just more manipulation . Bernanke understands this and probably had a hand in the timing of the F/F buyback programs.
The fact that the government is continuing to impact mortgage rates was not mentioned in the JH article. In fairness, his piece was directed to just the Federal Reserve's role in the buy ins. But I don’t think we are getting the full story from the WSJ. We are getting what the Fed wants us to hear. The real story is that Washington simply can’t stop interfering in the mortgage market. If D.C. really did stop, we would have a problem. And they know it.
Join us on our
Share this page with your friends
on your favorite social network: