$1,300 Per Household to Bail Out Fannie and Freddie

-Posted by D.C. Worth, for Barbay (France/US)

Smartmoney.com Associate Editor Jack Hough breaks down the cost of bailing out Fannie Mae and Freddie Mac....
And why we should get Gov't OUT of the Mortgage Industry!

Today's Links...
- A Shangri-la for Lawyers: Taxpayers Paying $194.4 Million to Defend Fannie&Freddie [VIDEO]..$500M, so far.

The Atlantic...
- No, Democrats: Income Inequality Didn't Cause the Financial Crisis.. [Read]

From B.C… "Banks were required to make subprime mortgages pursuant to the Community Reinvestment Act. In order to provide a market for the resulting subprime loans, Barney Frank and Chris Dodd made FNMA and Freddie MAC buy them.

Economists like Paul Krugman actively encouraged the government to create a financial bubble in mortgage loans. The financial crash was caused by the resulting bad mortgage loans when the bubble burst. It's really not that difficult to understand."

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