The Economic Populist - Speak Your Mind 2 Cents at a Time Fri 2009-09-11 17:54 EDT
90% of Residential Loans U.S. taxpayer backed
Buried in a Washington Post article: 90 percent of all new home loans are funded or guaranteed by taxpayers...taxpayers are on the hook for most of the loans that are still being made if they go bad. And they are also on the line for any losses in the massive portfolios of old loans at Fannie Mae and Freddie Mac, which own or back more than $5 trillion in mortgages.
90; economic populist; Mind 2 Cents; Residential Loans U.S. taxpayer backed; speaking; Time.