June 20, 2010

Cost of Fannie Mae and Freddie Mac Keeps Rising - NYTimes.com

Cost of Fannie Mae and Freddie Mac Keeps Rising - NYTimes.com

Thank you, Congress. Kudos to Sen. Chris Dodd and Rep. Barney Frank in particular for pressuring banks and mortgage companies over the years to make loans to people for homes they could not afford.

Thanks also to greedy Wall street creative loan packagers who crafted mortgage derivatives that few could understand and for insurance companies who played in this game of building a house of cards that continues to cause so much grief for so many people.

Special thanks to those people who gamed the system and made irresponsible purchases incurring debt they should have known they could not pay.

Together, you have sponsored a massive debt for United States taxpayers, enabled China to become increasing influential in our future and burdened our children and grandchildren with a dismal, debt-filled, high tax future.

The America Dream has been sideswiped by all of you.


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