Fannie, Freddie Could Cost U.S. $259 Billion while TARP bailout to banks makes money.

[dkf]

The government spelled out Thursday just how much the most expensive rescue of the financial crisis will end up costing taxpayers -- as much as $259 billion for mortgage buyers Fannie Mae and Freddie Mac.

That figure would be nearly twice the amount Fannie and Freddie have received so far.

By contrast, the combined bailouts of financial companies and the auto industry have cost taxpayers roughly $50 billion, according to the Treasury Department's latest projections. And the bailouts of Wall Street banks alone, which sparked public fury, have so far brought taxpayers a $16 billion return.


http://m.npr.org/story/130722699

[emilyg]

1. k/r

[kentuck]

2. Because the banks are selling their bad shit to Fannie and Freddie..

in other words, to the taxpayers. This is the 2nd phase of the bailout.

[dkf]

3. It wasn't even a bailout. It was a fraud perpetrated upon the American taxpayer.

This needs to be fixed.