In response to:

The Next Taxpayer Bailout: The Federal Housing Administration

Bear Trax Wrote: Dec 25, 2012 8:33 PM
Not that many years ago, the government's job was to d the responsible thing when it came to things that were government functions. Now, it seems, the government fumbles and dumbles around with 6 times the number of administrater than a private sector employer could afford. A lot of these government support programs should be privatized. Instead we have the government taking over more and more sectors of the economy for the FNMA ans FHA effect.
SuperSam Wrote: Dec 25, 2012 8:48 PM
The Democrats prefer public sector over private sector because then they can own the vote through unionization, which all comes at a huge cost to the taxpayers. Couple that with their welfare dependency for votes program and democrats never have to get elected over Republicans on merit. The working stiffs paying taxes are buying their votes for them.
The Federal Housing Administration (FHA), hit hard by the collapse of the housing bubble, is still making risky loans on the taxpayers' dime, and may need a bailout in 2013.

An exhaustive study of the subject by the American Enterprise Institute's Edward Pinto reveals some shocking statistics:

An estimated 40 percent of the FHA’s business consists of loans with either one or two subprime attributes—a FICO score below 660 or a debt ratio greater than or equal to 50 percent (based on loans insured during FY 2012). The FHA’s underwriting policies encourage low- and moderate-income...