Posted on 02/26/2010 3:31:23 PM PST by OldDeckHand
even then its not even much help or a loss for the government because they make it back because you dont get the mortgage interest deduction.
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Fannie Mae said the losses were likely to be ongoing
Liberals everywhere are now scratching their heads. They are, after all, the only people who never saw this one coming. Its basic numeracy, R-tards! Numbers eventually add up. If you make unsecured loans, or ones based on collateral that cannot possibly cover the potential loss of the loan, to people who can't (or won't) pay, then ultimately you are losing money. If you keep giving out more than you take in, then you will go bust. Why is this so hard for them to understand?
Check out this presentation by Anthony B. Sanders at George Mason University called “The Runaway Trains of Fannie and Freddie.”
http://mason.gmu.edu/~asander7/
It really points out the insanity of the Fannie/Freddie culture. AND points out that they are going to suffer far worse losses when interest rates and inflation rise.
God, this is terrifying!!!!!!!
Bawdy is doing well for himself. His plan is working just fine.
the bastard
“When does this $hit stop?”
It won`t.
No!
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