Moral Outrage
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Posts Tagged ‘mortgage

True Cost of Fannie Freddie Bailouts $317 Billion

June 6, 2011

The Congressional Budget Office (CBO) says the real cost of the federal government guaranteeing the business of failed mortgage giants Fannie Mae and Freddie Mac is $317 billion — not the $130 billion normally claimed by the Obama administration. In a report delivered to the House Budget Committee on June 2, the CBO said a […]

50 Facts about the US Economy you may not want to know

December 29, 2010

The following are 50 very revealing statistics about the U.S. economy: #50) In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined. #49) It is being projected that the U.S. government will have a budget deficit of approximately 1.6 trillion dollars […]

U.S. Taxpayers on the hook for $5 Trillion of Fannie and Freddie Debt

March 11, 2010

The U.S. government placed Fannie Mae and Freddie Mac in conservatorship in September 2008. Conservatorship is a form of bankruptcy. But rather than let the bankruptcy court sort out the assets among the claimants, the Treasury extended an unlimited credit line, effectively nationalizing them. However, it has now been clarified by Treasury that Fannie and […]

How Would You Fix the Economy?

December 19, 2009

A contribution printed in the St. Petersburg Florida Times, where readers were asked for ideas on:  “How Would You Fix the Economy?” Dear Mr. President, Please find below my suggestion for fixing America ‘s economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use […]

California dreamin’ of jobs that are no more

October 21, 2009

California, the world’s eighth largest economy, is still finding its feet after suffering multiple economic shocks, including a housing slump, mortgage crisis and recession. Employers in California, the most populous U.S. state, are expected to keep cutting staff in 2010 as the wider U.S. jobs market recovers. The state’s unemployment is far above the national […]