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Tuesday, August 10, 2010

Bailouts are Back

Fannie Mae and Freddie Mac announced losses this quarter and are looking for a bailout from the Government.  Going back to an article I posted Thursday Aug 5th called "Morgage Mess, Haven't We Learned Anything Yet?" Fannie Mae and the States announced $1000.00 down for housing.  I point out that this will cause more irresponsible lending to occur and more defaults, which the States cannot afford.    Fannie Mae announced losses in the recent quarter and needs a Government bailout, but promise this will be the last (we've heard that one before).  The tax payers bill just went up.  When will this irresponsible policy end and responsible lending enter the picture?

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