freddie mac

Fannie and Freddie Financially Finished - Taxpayers to pay the billIt was something we predicted weeks ago, the crash of the market, banks and eventual bailout of the bankers by their partners in the US Government. While turning a blind eye to the expanded liabilities and massive devaluation on the dollar the US government has entered the mortgage business. Broke homeowners may be happy that their homes may be salvaged by taxes but when everyone pays for someone else’s mistakes something is wrong. Where else in life can you spend billions of dollars of money you don’t have and then take your big paycheck and leave gracefully as US workers take on your $75 trillion in mistakes?

Can Freddie Mac and Fannie Mae Be Far Behind?This week the dollars decline brought the cost of crude oil to $147 a barrel. This week saw the one of the big financial bank failures as  a run on IndyMac forced its closure, one of the largest home lenders fueling the overheated California mortgage market, went into bankruptcy. Rampant fears when the Freddie Mac and Fannie Mae will fall are bringing Wall Street to an edge. The Wall Street investors are already borrowing fiat currency at almost free rates from the government! This week saw Lehman trying to follow in the footsteps of the bankrupt Bear Sterns is battling the fall.