I am not aware of federally guaranteed mortgages.
Of course we had to bail out the S & L's years ago...
Wow. Do you own your own home? Ever hear of HUD? Fannie Mae? Freddie Mac?
Of course we had to bail out the S & L's years ago...
Different program. That was FSLIC. Sort of like FDIC. You do know what FDIC is, don't you?
Michelle Malkin on Fannie Mae and Freddie Mac -- most people who worry about the potential collapse in the housing boom are worried about the taxpayer eventually having to bail these two institutions out if they go belly up.
http://michellemalkin.com/archives/000569.htm
The point of the Baker Plan to bail out New Orleans is to keep that from happening, because it will be very much worse for us all in the long run. Baker's an expert in mortgages, so he's got a good handle on this.