Posted on 03/28/2013 3:39:51 PM PDT by NoLibZone
"The biggest problem with Fannie Mae and Freddie Mac is that they are financial institutions with a social mission," said Tom Schatz, president of Citizens Against Government Waste.
That social mission, critics say, is to heavily subsidize mortgages for people who don't meet sound lending qualifications. "Lower income homes have a tougher time paying mortgages and when the housing market started to go under, that was the first to go," Schatz said.
(Excerpt) Read more at foxnews.com ...
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