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Gravatar Is this Housing Bill more like Housing Kill?

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Gravatar Congress and treasury created the mess we have with fannie and freddie. They were going to put every american in a home. New loan programs with no downpayments and no doc requirements came from the top with oversight from congress. They financed these ludicrous programs with our money and when they don’t work they walk away and leave us with the losses. Paulson has done nothing but lie about the condition of these two institutions since July. This is now a slush fund for government cronies. These programs didn’t work and will cost taxpayers billions with public oversight. Just think what it will cost now with the crooks in the kitchen!These mortgage programs are in direct competition with private banks and finance companies. Why should they have to compete against their own government. If things were OK in July why are we now eliminating 36 billion dollars in preferred shares? This is the fiasco of the century. comments by "Buck McHugh"




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