Fannie Mae and Freddie Mac Run Up Huge Tab for Taxpayers
So, remember that whole bailout thing that began a couple of years ago? It's not over yet, at least not when it comes to those delinquent housing giants Fannie Mae and Freddie Mac According to new government projections, the Fannie and Freddie bailout fiasco could (continued).
So, remember that whole bailout thing that began a couple of years ago? It’s not over yet, at least not when it comes to those delinquent housing giants Fannie Mae and Freddie Mac. According to new government projections, the Fannie and Freddie bailout fiasco could run up a $363 billion bailout bill for taxpayers through 2013. And as the Los Angeles Times reported Thursday, taxpayers are now the proud owners of almost 80 percent of both companies — lucky us! –KA
WAIT, BEFORE YOU GO…Los Angeles Times:
The Federal Housing Finance Agency, which has regulated the former government-sponsored enterprises since they were seized during the financial crisis in 2008, said the figure was based on the worst of three scenarios for the economy and housing market that assumes a “deeper second recession.”
Under the best-case scenario, which would be a “stronger near-term recovery” in housing prices, the bailouts of Fannie and Freddie would reach $221 billion. The third scenario, in which housing prices continue on their current projections, would result in the combined bailouts reaching $238 billion.
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Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
"I can think of no matter of 'intense public interest' about which 'the American people deserve the details' than the issue of what precisely happened to the criminal referrals that followed the 2008 crash."
Great Britain’s decision to leave the European Union presages perhaps another global financial meltdown. Banks will again demand massive bailouts. We will be forced to again swallow austerity measures, and there will be a continued decline in living standards.
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