Government To Take Over Fannie Mae/Freddie Mac?
Posted by admin | Under Conventional Mortgage Saturday Sep 6, 2008According to an article dated September 6, 2008 at 12:37AM on Wall Street Journal Online entitled “U.S. Near Deal on Fannie, Freddie“, the Treasury Department is on the verge of finalizing a plan that would be tantamount to a government takeover of mortgage giants Fannie Mae and Freddie Mac. This in spite of the fact that government has never exhibited any ability to operate effectively with any endeavor it has ever undertaken. The result of this will be massive infusions of “cash” from the government. Cash which it doesn’t really have to begin with. This action can only result in more inflation.
It appears the government is trying as hard as it can to duplicate the actions which precipitated the Great Depression.
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