Posted by: reozom | July 8, 2010

Fannie Mae and Feddie Mac are a Moral Hazard to America

When are people going to wake up and realize that having the federal government involved in the housing market is not only bad for the housing market, but for the overall economic stability of this nation. Fannie Mae and Freddie Mac do nothing more than create a moral hazard by insuring loans that should never be made in the first place. Passing the financial risk not onto the banks that originated the loans, but rather the taxpayers. Fannie Mae and Freddie Mac have already been given 145 billion of your money. Why should the taxpayers of this country be forced against their will to pay for some elses irresponsibility and misfortune. But don’t worry Barney Frank from Massachusetts is here to save the day, click on this link http://www.youtube.com/watch?v=iW5qKYfqALE&feature=related  to see how utterly clueless this guy is. God help us all if these idiots remain in power.

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