Thursday, March 12, 2009

Fannie Mae(Day) and Freddie Muck

The taxpayer owns about 80% of each of these terrible corporations. I'll just say this for now:

- These companies were supposed to be the backbone of the mortgage lending industry

- While the Federal Government was paring down their borrowing under the Clinton administration, Fannie & Freddie were borrowing up a storm: more leverage, different name.

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