The FHA is going Fannie & Freddie's way...

[rbell]

Why do we trust these criminals?

http://newsbusters.org/blogs/tom-bl...-dance-fan-fred-losses-balloon-here-comes-fha

The two points of the story:

1. The estimated bailout cost of fannie mae & freddy mac...once estimated at $25 billion (with a 5% chance of going as high as $100 billion) are now at $400 Billion. Face it folks...we've put liars and crooks in charge...in each of the last two administrations.

2. The Federal Housing Authority started doing the very thing that Fannie and Freddy did. WHen they had to stop, the FHA started up. Now, these bad loans (these bozos are unteachable!) are about to sink FHA.

Get ready for yet another bailout. I guess we'll hear the Slobbering Socialist Sodomite, Barney Frank, run his mouth nonstop yet again.


I know the folks in Washington will never get it. When will we???

 

[Twizzler]

In return for pumping taxpayer dollars into the two firms, Treasury received preferred stock, which is designed to give the government a healthy 10% to 12% dividend. But few expect that Fannie or Freddie will be able to pay that dividend, let alone return the money handed to the firms to cover their losses.

Erm... I'm no super-genius, but when they're giving out home-loans at 5 to 7% interest I would think it would be very difficult to pay a 10 to 12% return. What a joke!