Tuesday, November 15, 2011

Politicians are as reckless with money as Wall Street bankers

Congress wants to give a near-bankrupt agency a larger role in the housing market:
Taxpayers are finding that there may be a bill to pay one day for the government’s role in backing low down payment mortgages, even as Congress appears ready to double down on the agency backstopping those loans.

On Tuesday, the Federal Housing Administration is set to report annual finances showing that the agency barely has enough cash to cover anticipated losses. Meanwhile, Congress looks poised to take steps that will increase FHA’s role in the housing market.
This can't possibly go wrong!

1 comment:

  1. JohnnyBrooksHomes.comNovember 24, 2011 2:19 AM

    There are way too many attorney's that become politicians and wreck havoc on society. Until we start making better decisions on the folks that run our country, this will continue.

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