Friday, February 25, 2011
Fannie Mae and Freddie Mac Lost $41.5 Billion of Taxpayer Monies in 2010
...And of course Fannie and Freddie both want more money. The giant mortgage losers were placed in "Government Conservatorship" in September 2008. The two, plus the FHA , currently own or back more than 92% of all new mortgages. The Obama Administration is making noise about doing away with them...years from now. This is a socialized housing market at its finest...or at its worst, depending on where you're sitting while contemplating the issue.