Mortgage Giants Leave Legal Bills to the Taxpayers

[gimpy117]

Originally Posted by August

Dude, you might want to read up a little about Freddie Mac and Fannie Mae before you talk about fraud or burning.

what do you mean? They practiced bad business practices, telling customers they could get a loan when really it was not a safe investment, and then, when the market tanked and they were stuck with all that bad debt. But because they "were too big to fail" everyone figured we better write them a blank check with little oversight.

am i right?

I get it that Fanny may and freddy mac are very important...but where do we draw the line.