Fannie Mae's bailout tab

The Washington Times ^ | 4-7-05 | Dan Gainor

[JZelle]

Journalists love a scandal. All too often that means the rest of us get fed round-the-clock coverage of Michael Jackson or enough celebrity gossip to make even a Hollywood agent blush. Sometimes that scandal is closer to home, and what's closer to your home than your mortgage? Fannie Mae, the government-sponsored mortgage association, has been battling a mounting scandal since last year. It has accounting errors of about $11 billion. That's more than nineteenfold Enron's $567 million error. Then there's a Justice Department inquiry, a Securities and Exchange Commission investigation, and an Office of Federal Housing Enterprise complaint.

[JZelle]

More liberal hypocrisy.

[DTogo]

Liberals expect the Government to waste the public's money - "it's the price of progress."

BUMP

[wayoverontheright]

Enron was a $587 million "error" which harmed the lowly stockholders and employees of the company. Fanny Mae's $11 Billion boondoggle is wasting tax money, 90% of which was contributed by the "rich". Therefore, no uproar, no story, no coverage from the MSM.