HowlingMad

Fannie and Freddie - Some Facts to Keep in Mind

The US government needs to get out of business period. While the allure of morgages for the average American is a noble cause the execution of such is seriously lacking, like any other government 'anointed' bureaucracy.

If you read the last House Appropriations Bill like I did you would realize just how screwed up our government is. (Yes, I read all 3500 pages).

Did you know the gov't spends interesting amounts of money like:
2.1 Billion dollars to cover mortgage companies losses (only for farms though). This was enacted Jan 2006.

The DOJ spends 539 million a year in rent. To whom? The office of Building Management in Washington, DC.

I just love how the IRS spent 142 Million to notify you of your stimulus check while the broadcast media did a quicker and better job for FREE!

I would only support a bailout of Freddie and Fannie if it is a LOAN payable within 5 years. This would stop F&F from living in the lap of luxury and start holding them accountable. (If you were ever to their offices you would know what I am referring to)