Great news just keeps coming. You are the proud owners of 295,307 houses. Your friends at Fannie, Freddie and the FHA are doing a bang up job supporting the housing market. Since this latest crisis started in 2008, they have increased the amount of homes you own by 125%. These fine agencies were supposed to support the housing market by guaranteeing mortgages given to credit worthy consumers. How did that work out for ya?
In reality, these agencies were directed by government drones to backstop any loan to any deadbeat with a breath and the ability to scratch an X on a loan document. The entire housing market has been a giant fraud since the year 2000. One problem. You are paying for the fraud. Not the banks. YOU!!!
Freddie reported their annual “earnings” (ha ha ha) last night. They had another outstanding year. They ONLY lost $14 BILLION of your tax dollars last year. You may think that doesn’t sound so hot, but the drones running this piece of shit were thrilled. The prior year they had lost $21 BILLION of your tax dollars.
At this pace, they get back to breakeven in the year 2150. I know I’m confident they are capable of losing at least another $200 billion of our tax dollars before their finished.
Obama declared that it is the best time to buy, there is no inflation, and this Libyan thing should blow over shortly. By the way, he supports gay marriage now.