Posted by: arnegrim | May 5, 2010

FHFA – If it weren’t government owned…

Would there be a question as to the outrage over its debt?

“Created by Congress, Freddie Mac and sibling company Fannie Mae buy mortgages from lenders and package them into bonds that are resold to global investors. As the housing bubble burst, they were unable to raise enough money to stay afloat, and the government effectively nationalized them.

Freddie’s new request will bring the total taxpayer tab for both companies to about $126 billion.”

And maybe Democrats need to not stick their heads in the sand…

“Frank (D-Mass.) sent a two-page memo Tuesday evening to Obama administration officials urging them to return fire to defend the Wall Street reform bill.

In the memo, a copy of which was obtained by POLITICO, Frank made the case that Freddie and Fannie are being managed responsibly, and aren’t doing further economic damage to themselves now that they’ve been taken over by the government.”


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