Long form journalism and the media in general are getting it wrong. Their populist bias is unmistakable. Wall Street is bad, main street is the victim. As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury.
$1.5 TRILLION – The Treasury and the Federal Reserve have begun buying debt and mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae.
$400 BILLION – The companies were put into conservatorship and the Treasury initally pledged up to $200 billion to cover their losses. Freddie Mac has now received almost $45 billion and Fannie Mae $15 billion
