TITLE

Stop Mortgage Investor Bailouts

AUTHOR(S)
Randazzo, Anthony
PUB. DATE
October 2011
SOURCE
Hit & Run;10/16/2011, p17
SOURCE TYPE
Blog Entry
DOC. TYPE
Article
ABSTRACT
The article discusses how the U.S. Treasury Department has been funneling 169 billion U.S. dollars of taxpayer money to mortgage investors. It points out that the U.S. government, under the guise of protecting the housing market, has guaranteed to cover the guarantee payments of mortgage-backed securities in case Frannie and Freddie ran out of money. It indicates that this bailout is one of the roots of the subprime crisis and subsequent financial collapse.
ACCESSION #
72500224

 

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