Fannie Mae and Freddie Mac reform: Would it add $5 trillion to US debt?

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Real estate was and is STILL over priced when compared to typical incomes.

I don't own any stock in Fannie or Freddy.

Neither did I own any stock in any of t6he BANSTERS who'd have gone teats-up had the US government not come to their aid.

Face it kids, the Banksters greed, coupled with their absolute domination of the government lead to the worlds hugest example of a tragedy of the commons.

Those boys mostly got their asses bailed out.

However holders of real estate are now, and will continue to pay the price of those bailouts.

WELFARE Socialism for the RICH, cutthroat capitalism for the workers.

THAT's what we've got today, and far as I can tell, that's how it is going to be for the rest of our lifetimes.

yes...good post.

let me add just how crazy this is with a quick story; my cousin is a real estate and mortgage broker, hes living on fha streamline loans right now......for those not familiar with what those are, basically if you are solvent, have not missed a payment and, even if you are not under water, they will come looking for you.

you can have your loan reset if there is a lower rate available every 6 months, it costs you NOTHING, no appraisal, no closing fees, just the notary fee to come to your house to sign the papers you get the 'free' one month mortgage lapse and your escrow back too.

so my question to my cousin was, how do you and the mortgage co. make money?' they' give them, the mort. co 300 basis points as a fee, which trickles down to his fee.


WHO pays the 300 basis points, whos that 'they'?...., uncle sam- meaning you and me.

I know someone who has no issues paying his mortgage,never did, hes done this 3 times, from 6.25% to 5.5% now to 4.50% on a 30 yr fixed jumbo loan.

why are we doing this? beats me.