The two legislators who are most culpable for NOT regulating Fannie and Freddie more closely are Barney and Chris. Thankfully, Chris is retiring. Please, citizens of Massachusetts, its time for Barney to retire, too.
June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
For more on this depressing story, click and paste the whole story.
http://www.bloomberg.com/apps/news?pid=20601109&sid=an_hcY9YaJas&pos=10
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