You do understand that fannie/freddie have liabilities in excess of SIX TRILLION DOLLARS on mortgages....IT IS ALL TAXPAYER MONEY!
Both Federal Guarantee schemes for mortgages were used to "assure banks that loan risks were covered", using, of course, the Taxpayers' liability/obligation.
As with EVERYTHING that fools think "the Federal Government provides"; it's just signing us (Taxpayers) all up for paying for committmments to benefit friends/constituencies.
When the "poor" were not being loaned money for mortgages (due to their poor credit, inability to pay, etc.), Bill Clinton's bunch decided that welfare checks, no job, no other income, etc., were NOT good enough to deny approval of loan-worthiness, and loans were made to non-qualified (economically) buyers (inability to pay), but socio-economic groups that would always vote Democrat, and they never paid their mortgages thereafter, and we'll be stuck with this bill. The benefit to Bankers was that they were assured they'd make money in the scheme without risk, AND, they could expand their businesses by loaning to a larger base of borrowers.
This type of fleecing goes on in all areas, whether it's the settlements of Class Actions, to reward Trial Lawyers (such as the Tobacco Settlement), or for Unions (such as the Auto Bailouts for the UAW Pension Funds), etc., etc.
The Taxpayer is ALWAYS put on the hook, using popular phrases and contorted claims of "benefit" to The People, to take the tax money and pay off favored Lobbyist interests.
The Constitution has no provisions (INTENDED) to do this raping and pillaging of The People, but by placement of Judges (former Trial Lawyers, etc.) in positions that can skew the meaning of the Constitution, or invent interpretations to suit the Agenda, we are continually at risk for the consequences.
THAT (destruction of the Framers' Intent/U.S. Constitution) is the core of the Tea Party movement.....get out of our wallets, get out of our daily lives, and get back to the LIMITED GOVERNMENT that the Constitution provided.