The Phaserl


Government Watchdog Warns – Fannie, Freddie Could Need Another Bailout

by Michael Krieger, Liberty Blitzkrieg:

It’s always nice to be reminded of how far we’ve come since the dark days of 2008/09 ,when American plebs involuntarily bailed out the oligarchy generally, and Wall Street specifically, to the tune of trillions. Sure, all the gains went to the 0.001%, but the wounds have healed, and we’re in the midst of a stellar economic recovery. The latest proof of how far we’ve come was laid bare by an article in the Wall Street Journal:

Mortgage-finance companies Fannie Mae and Freddie Mac could be at risk of needing more government bailouts, a watchdog said in a report set to be released Wednesday.

The report from the inspector general for the Federal Housing Finance Agency, which regulates Fannie and Freddie, warns that the companies’ declining profits and capital cushions could leave them vulnerable in the event of an economic downturn.:

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