If history teaches us one thing, its that it teaches us nothing.

Bendintheriver · July 3

16 years ago the world financial markets almost collapsed. Democrats forced banks to take on high risk loans and the rest is history. Trillions upon trillions were lost. The child molester barney frank walked off into the sunset with his full retirement and took zero credit for the disaster he created and let flourish. I hope he burns in hell for what he did to so many people.

Well, fannie and freddy, under rat control, are now going to start buying up second mortgages. Again, this means the American tax payer will be on the hook for the riskiest home loans possible, the second mortgage.

This is so counter intuitive and nonsensical it boggles the mind. Rats in charge have zero smarts. They are incredibly dumb.

Housing prices will go up, the private investors will not be able to compete which means the risk is all on the tax payers to cover risky loan defaults, and the fed will be able to move/effect markets across the board with a wave of their hand. This is classic communism/socialism.

https://www.realclearmarkets.com/articles/2024/07/02/taxpayers_shouldnt_be_forced_to_pay_for_freddie_macs_mission_creep_1041640.html

Taxpayers Shouldn't Be Forced to Pay For Freddie Mac's Mission Creep

.By Michael Bright July 02, 2024

Freddie Mac – a federal government-controlled mortgage lending giant – wants to expand its presence in the bond market by starting to buy second mortgages. Taxpayers should be concerned and regulators skeptical. The proposal, which will be tested in a pilot program soon, is more than the usual Washington power grab, it’s an example of government creating a problem that taxpayers will be forced to pay for.