Fannie Mae and Freddie Mac Bailouts where Obama may be aiding distressed homeowners has Washington buzzing today. Granted the rumors are wild, and we never thought the government would actually do it. However, some folks are reporting there is a strong possibility Obama will try to forgive some Freddie and Fannie debts.
What does this mean?
We believe it’s political. He’s trying to aid distressed homeowners who got on the wrong side of the real estate cycle. But hey, people do that all the time. They over invest or they invest in the wrong real estate at the wrong time. Does that mean our tax dollars should be used to bail them out?
Most importantly, exactly where will this money be coming from? They’re having to look underneath the couch cushions now for coins.
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