Wednesday, May 11, 2011
With close friends of Obama running Fannie and Freddie, who didn't see MOAB II coming?
From ABCMoney -- WASHINGTON (Reuters) – Mortgage finance giant Fannie Mae (FNMA.OB) on Friday said it would ask for an additional $8.5 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.
The largest U.S. residential mortgage funds provider reported a net loss attributable to common shareholders of $8.7 billion, or $1.52 per diluted share, in the first quarter.
Including the latest request, the firm has taken about $100 billion from the U.S. government since it was seized in 2008.
Can somebody show me in the Constitution where the federal government has any business at all meddling in the private mortgage industry? And don't try to float the "promote the general welfare" balloon. You dumb liberals hide behind that clause as an excuse for every thing you do that is extra-Constitutional.
Even as both companies were collapsing, Barney Frank and Chris Dodd were defending them as on solid financial ground...and both were the biggest recipients of bags of cash from them. Coincidence? And why do you cretins in Mass. keep electing Frank? How stupid are you people?
Frank and Dodd should be in prison.