Freddie Mac Bets Big Money Against American Homeowners

We just wanted to let everyone know how Freddie Mac believes in American homeowners. (Note heavy sarcasm)

We remind everyone with a short memory that Freddie Mac, along with its cousin Fannie Mae, received a huge bailout from our government in 2008. The American taxpayers now own both.

ProPublica and NPR discovered that Freddie Mac has wagered multibillion-dollar bets that pay off if homeowners remain stuck in pricey mortgages with interest rates well above current rates.

Click on the link to read the whole story:

Considering that we taxpayers own Freddie and Fannie perhaps we need to do some housecleaning at those institutions. Or maybe we should put a few people in jail?


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