Commodity Trade Mantra

Posts Tagged ‘Fannie and Freddie’

US Government Backing for Toxic Mortgage Securities?

The stated goal of the Johnson-Crapo bill is to “overhaul” mortgage giants Fannie Mae & Freddie Mac so that “private capital can play the central role in home finance.” The real objective is to hand over the profit-generating mechanism to the private banks while the red ink is passed on to the public.

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