Freddie Mac and Fannie Mae set to take on more bad loans from investors. Taxpayers on the hook yet again.

Did I say wind down? No I meant expand!  —The President comes up with a new scheme for bailing out underwater real estate investors and Wall Street firms stuck with “toxic assets.”

Makes sense. Everything has been dumped on the taxpayer already. Why not a few more billion dollars worth of real estate waste? That way investors and banks can move on. The taxpayers? Well, let’s be honest, they don’t care about the bill so long as it can be put off for another day, year, presidential administration.

Freddie and Fannie currently owe the taxpayer over $180 billion.

(From IBD)

According to Reuters, the White House proposes transferring to Fannie and Freddie billions of dollars of underwater mortgages held by private lenders or investors — including some issued by subprime lenders and bundled into securities by Wall Street firms.

“The proposal would transfer potentially riskier loans held by private investors to the government-sponsored mortgage entities Fannie Mae and Freddie Mac,” the news wire said.

Click here for the article.

16 comments
Melanie Smith
Melanie Smith

Agriculture, Housing, Banking, They are into every area of our lives. how do we get BACK to WE the people.

David Wilson
David Wilson

What can "We the People" Expect when there are IDIOTS and CRIMINALS in Charge?! KD

Aidan Haggerty
Aidan Haggerty

Freddie Mac and Fannie Mae should be removed. The private sector can do this without the risk attached to the taxpayers...

Kenneth Peterson
Kenneth Peterson

these 2 companies are the reason we're in this fucking mess.... and Clinton and Harry Reid and the rest of the fucking retards......

Stephen Faust
Stephen Faust

If we put the real crooks in jail.....it would be the politicians......I'm thinking that ain't happening.

Nick Sklikas
Nick Sklikas

When you re-elect 90% of the representation that sold you down the river, why would expect anything different?

Todd Davenport
Todd Davenport

yea rite,get rid of harry reid,kick the bastard traitor out

Charles Massey
Charles Massey

We need to hold congress accountable for all bad laws and until they get it right - no pay

John Wright
John Wright

well the homeless can have my share and move right into a forclosed home. whos with me

James Crooke
James Crooke

The same people that started all of this the democrats are going to let them kill us and then blame Bush again.

Darrell Spencer
Darrell Spencer

It's time to go after those that create this havoc and stop bailing them out at our expense. In Iceland the government bailed out the people and jailed the bankers, their economy is in recovery, it really is that simple, put the real crooks in jail, we have plenty of them to go around