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?