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Getting Our Money Back from Fannie and Freddie

MariansMusings Wrote: Nov 28, 2012 11:44 PM
Fannie and Freddie were redundant from the git-go. We already had FHA and VA loans for smaller down payments. Private mortgage insurance filled in the chinks for people who did not have the requisite 20 to 30% down payments. Since Fannie and Freddie's bones have been picked clean through raids by community organizers, the pickers are moving n to suck the FHA program dry. I have covered this at Fannie and Freddie should be shut down immediately. We are victims of embezzlement who refuse to prosecute in hopes of recovering some of the money. Ain't going to happen, folks.

Yesterday in the New York Times, Josh Rosner, co-author of Reckless Endangerment, asked one of the questions that almost everyone in Washington is avoiding: how do the taxpayers get back their money, currently about $180 billion (including dividends), from Fannie Mae and Freddie Mac? Obviously Democrats do not want to be reminded that their social engineering of the mortgage market has been a disaster, but why have Republicans been quiet?

I suspect many Republicans, at least those not closely aligned with the real estate industry, are torn between wanting to immediately get rid of Fannie and Freddie and getting the...

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