FNM and FRE ARE OUT OF CONTROL
There’s something happening here, What it is ain’t exactly clear.
Fannie Mae and Freddie Mac debt levels have significantly increased in the past 6 months… BY 4 TRILLION DOLLARS!!!!! Just the increase amounts to over 30% of the entire US national debt, which is itself outrageously out of control at $13.1T! But at least the national debt took quite a few years to get to this level. It is very worrisome how quickly FRE and FNM are piling on the debt.
According to Yahoo Finance, On 12/31/09, FNM and FRE total cash – debt was $1.306T
Which wasn’t small by any measure, but look what has happened since then.
Now, a little over 6 months later, the total debt of these 2 companies is $5.288T
The increase in their debt in 28 weeks is $3.982T
WHAT IS GOING ON HERE???
How did their debt get several times the size of the TARP bailout plans?
Who is benefitting from all this debt? It almost has to be the TOO-BIG-TO-FAIL financial institutions. They get money at low interest from the government, create mortgages at 5%, and sell them to FNM and FRE at no risk with the blessing of our government. This is not acceptable!
And who is ultimately going to pay for all this debt??? I sure hope it isn’t the US tax payers, but I have a sick feeling that it surely will be.
THIS MADNESS CANNOT CONTINUE! PLEASE CALL YOUR REPRESENTATIVES AND DEMAND A STOP TO THIS NONSENSE!