BSR the taxpayer impact does not happen until people start defaulting. The FHA is backed up by taxpayer money. Why should any taxpayer money at all be involved in this redistribution of risk.
Better yet BSR… what if all these proposals that are in place now, were in place in 2004? What if the FHA insured subprime loans? My issue is that yes it is a redistribution of risk but why should my tax dollars be involved in this redistribution of risk?
