Fannie Mae is asking it’s owners, the U.S. Taxpayers, for a $5.2 Billion bailout, to top off it’s previous $104 Billion bailout.
Congress and Obama have had more than two years to work on disconnecting taxpayers from Fannie Mae and Freddie Mac. Even if one accepts the notion that seizing the two GSEs made sense as an emergency measure, we cannot keep covering their losses. At some point in time, the investors have to take responsibility for their bad decisions. Instead of passing ever-increasing regulation on industry that chokes off economic growth, perhaps the Obama administration and Congress should spend some time protecting taxpayers from the ongoing bleed-out at Fannie and Freddie.
I can hear the printing presses humming. Original story source: Yahoo News