Monday, January 25, 2010

Government Sponsored Failures

Government Sponsored Failures (FNMA and FHLMC) are often referred to as "Enterprises". Enterprise is a generous label, considering the American taxpayers are now on the hook to pay for UNLIMITED backstops that dwarf the AIG bailout. Zero Hedge and John Hussman provide further analysis on this massive transfer of wealth from America's middle class to corrupt bureaucrats and their pet projects.

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