Federal Regulators are suing 17 banks for selling mortgage giants, Fannie Mae and Freddie Mac, nearly $200 billion in mortgage backed securities. The question is why are they suing now? It’s been three years since the mortgage collapse, and now more than ever we need more banks to lend money. Ed Butowsky, managing partner of Chapwood Investment Management, joins Fox Business’ America’s News HQ to try and answer these questions.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: bank of america, banks, fannie mae, fox business, freddie mac, government, jp morgan, law suit, lend money, loan, money, mortgage, mortgage backed securities, mortgage collapse, wealth management