In response to:

The Next Taxpayer Bailout: The Federal Housing Administration

Joe Casepack Wrote: Dec 26, 2012 3:53 AM
People voted for Depression, it's time they get what they voted for. Even though I lost my job to the economy, I was wise enough to pay off my house when Obama was first put in office. Now all I have to do is come up with my rent(property taxes). This next four years of depression under this idiot will be a serious test. But I will survive, I'm still young enough to take what I need if it comes to that. The national socialists will not prevail this time either.
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...