Freddie Mac and Fanny Mae Bailout
July 28th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Trends
There are several mixed opinions about the Fanny Mae Freddie Mac Bailout. I agree that it is going to add a huge amount of additional debt to our already massive deficit but I don’t think we had a choice. Our economy has been damaged so severely by the sub prime/Foreclosure crisis that not bailing out Fanny and Freddie might cause a collapse in our entire economic structure. Fanny Mae and Freddie Mac hold over 40% of our countries Mortgages and without this bailout I fear that we might be heading into worse economic crisis. As much as I don’t like the additional expenses to the taxpayers I don’t think as a Country we have a choice. At this time this bailout is a necessary evil I think we eventually need to find a better way to manage our countries and our personal mortgage debt but at this time I don’t think we have a choice.
