Fannie Mae and Freddie Mac - What does the future have in store?
Fannie Mae and Freddie Mac last year bought and backed over 3/4 of all us mortgages. However their losses (backed by US Taxpayers dollars) are mounting due to foreclosures. Something needs to be done with these agencies which many believe caused our current down turn. They are basically out of control freight trains that are politically and fiscally corrupt. Even under new laws and government bailouts they are still allowed to make political contributions under the law even to the same persons that sit on committees that over see them! Recently, they have both been de-listed from the stock exchanges. That only occurs when the market views their value as pretty much worthless. The question to ask, is what is next for their future?
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