“[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War.” – Benjamin Franklin
Fannie and Freddie have reportedly been cash-cows for the federal government who have allegedly held the quasi-governmental guarantors hostage during eight-years of government receivership. Fannie and Freddie have returned to the Treasury over $60 billion more than they received in the bailout. But the amount they owe to the government remains outstanding. It is likely that the tax payer is being prepped to dole out another bail-out for the profitable GSE’s that insure trusts that are empty or no longer exist.
Fannie and Freddie are antiquated dinosaurs that contributed to the foreclose melt-down. As nothing more than guarantors for empty trusts, they routinely attempt to foreclose on homes they don’t own and loans that…
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