brooklyn91941

Oh, the Irony: Fannie Mae's Delinquent Loan Losses, Government Housing Solutions

The question here is the viability of the banking system. Some sort of entity has to take the bad loans off the books of the banks, like we did in the early 90s. However, at the same time we have to reverse some aggresive legislation that formed the foundation for the lunacy that evolved into the wild west of sub prime. The reforms that Chairman Bernanke spoke of yesterday, credit card reform and bankruptcy reform are needed.

Its going to be very painful for us poor schnooks the taxpayers.