Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
By Lorraine Woellert and John Gittelsohn
*** begin quote ***
Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts.
*** end quote ***
You have to be kidding me. When will we cut our losses on this disaster?
Surly even the politicians can see what a disaster this is. And, who are the other 20%? Politically connected friends? Argh!
Repaying. Yeah, this article repeats the “big lie” about repayment.
Got to buy some more gold and silver. It the shumer hits the fan, we’re screwed.
We’ll be the golden horde in the camps.
What will it take to bring on the revolution?
Can it be avoided?
# # # # #