Skip to comments.Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion
Posted on 06/29/2010 9:31:15 AM PDT by NormsRevenge
For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg.
According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion.
Two things are clear: Taxpayers dont want to foot the bill, and Fannie and Freddie, taken over by the government in 2008 to stanch the financial bloodletting, need a major overhaul.
(Excerpt) Read more at cnbc.com ...
a trillion here, a trillion there, pretty soon, you’re talking some series jing.. the beat goes on,, DC marches the nation to the edge of a precipice as the media pushes the herd into a frenzy.
And to think, to the two biggest Fannie-Freddie idiots are the same ones working on reining in the financial markets with their Dodd-Frank bill...............how frakin quaint.....NOT!
A trillion here, a trillion there. After awhile, you’re talking real money.
Anybody wanna take any bets..that by the time its all said and done its really TWO billion. The media elite are WAY under-publicizing, as they did with the cost of ObamaCare, the true costs of this governing malpractice by our professional politicians.
Anybody wanna take any bets..that by the time its all said and done its really TWO trillion. The media elite are WAY under-publicizing, as they did with the cost of ObamaCare, the true costs of this governing malpractice by our professional politicians.
We haven’t had a single major bankruptcy in this mess. Not one. Let them go. Let some of the investors that bought into these companies that made bad decisions . . . lose money . . . rather than every taxpayer bail them out.
When the hell is the GOP going to dump this fiasco in Clinton- Franks -Dodd -Black Caucus laps
Good Times for Fannie and Freddie!
Expect it to be much more than $1 Trillion. Both Freddy and Fanny will be going belly up in the near future as Congress will not continue to fund this. That means that mortgage rates are going to go through the roof which also means good luck getting a home loan. Cash will be king and the price of a house will be 1-1.5x yearly income. That also means that new houses are going back to 1950’s in size (think 1000 to 1200 sq-ft). The days of McMansions for all is done and only the rich will be able to afford the big house on the hill.
“When the hell is the GOP going to dump this fiasco in Clinton- Franks -Dodd -Black Caucus laps”
They’re not! The majority of the gop is just as dirty as the pos dems!
Our Congresscritters don’t care.
This will also have an adverse effect on the mortgage market, again.
Just what the Dem/Libs want.
we could have paid off all the mortgages with what we have already spent .....why throw good money after bad..
But government-run heathcare is going to be awesome..........................
And those clowns at FNMA and FMAC are STILL buying minimal down payment mortgages.
Bureaucrats NEVER learn...
Fannie and Freddie, financiers of Democrat schemes, have already cost us a trillion or more dollars.
I'm starting to notice a pattern here - a trillion here and a trillion there and pretty soon you're talking about a bankrupt country!!
Oh, wait!! We're already there!!!
Democrats were WARNED of Financial crisis and did NOTHING
Democrats think that crippling the American economy and costing $1 Trillion is a small price to pay in the name of affordable housing.
Of course like all liberal ideals they’re poorly thought out. Crashing the economy and massive debt have fewer poor people owning homes then if they’d not forced banks to make home loans to folks who couldn’t afford them.
It’s the good intentions that count!
Who is being bailed out here, really?
Not the homeowners who got in over their heads - they go into default on their loans and are losing houses at record rates.
As the article explains: Banks, Foreign Governments and Bondholders.
So, we will be taxed to the hilt, pretty much forever, to ensure profits for Banks, Foreign Government and Bondholders: because they bought junk paper.
For some reason Obama has decided to make them whole. WHAT A LOAD OF BS!
No matter what claims Obama makes to be a Progressive it is all another LIE. His actions are: taking from the middle class and giving to his friends on Wall Street, the Cayman Islands and China.
I am looking forward to default and collapse. The idea that we would really pay all this debt off is sickening. Who? My kids? Obama is the anti-Lincoln. Lincoln freed the slaves, Obama is enslaving the free: enslaving all American tax-payers into permanant debt bondage.
What if they passed a law saying that every 18 year old girl needed to go work as a sex intern for a year for the local Democratic Party. Would you send your kid?
Why are we even sitting here obeying laws that are stealing our kids money and giving it to the whore mongers in New York?
It sickens me, it really does.
I just had a relative who stopped paying her mortage because the condo is underwater big time. She is employed and could pay it if she had to. If she is doing it, I bet LOTS of other people are too. Government will just blame the “GREEDY LENDERS” instead of putting the blame on those who got in over their heads. I think all we’ve seen so far is a warmup for the BIG EVENT.
Hey.. No Problemo! 13 Trillion in debt ain’t nothing..
Make it 14.. 15 .. Obama has a shot at 20 by the end of his reign of terror. one scary dude.
0 has already cost us $13 Trillion!
Not from what I saw on YOU TUBE