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FMCCL - Treasury's Phillips Says GSEs Have Paid Back Taxpayers
Freddie Mac V/Rte Non Pfd
Craig Phillips is the point man at Treasury who is working on the plan to send to the White House on what to do about ending the conservatorship of Fannie Mae (FNMA) and Freddie Mac (FMCC). He is now saying that he sees Fannie and Freddie as having paid back taxpayers:
In the video above he's responding to a question from Alex Pollock, who put together an article on the 10% moment. The theory behind the 10% moment is to ignore the accounting fraud and the net worth sweep and