Fanny and Freddie don't have the money to cover the defaults, the real reason of the bailouts (financial, government)

[SilverOne]

http://adask.wordpress.com/2010/01/03/trouble-times-one—or-times-ten/ (broken link)

Because [Fannie & Freddie] don’t have the money to cover the losses. . . . Once they foreclose, they must remove the non-performing loans from their asset side of the ledger. . . list them as a liability . . . and come up with the money to cover the huge losses. They don’t have anywhere near enough capital to do this. If their total liabilities were exposed, Fannie, Freddie and many banks would collapse, and drag down the entire global financial system with them.

[shorebaby]

Originally Posted by SilverOne

http://adask.wordpress.com/2010/01/03/trouble-times-one—or-times-ten/ (broken link)

Because [Fannie & Freddie] don’t have the money to cover the losses. . . . Once they foreclose, they must remove the non-performing loans from their asset side of the ledger. . . list them as a liability . . . and come up with the money to cover the huge losses. They don’t have anywhere near enough capital to do this. If their total liabilities were exposed, Fannie, Freddie and many banks would collapse, and drag down the entire global financial system with them.

I wonder if Barney Frank is dating someone over there again?

Fannie, Freddie CEOs Could Get $6M in Pay - CBS News

[SilverOne]

Great article really gets indepth on the workings of our government

[Sunny-Days-in-Florida]

Odd that both of them have and are being ran by Obamie associates.

Boy the connections.

If they go under, Obamie the Commie can take them over and control the mortgage industry.

Its in the plan folks.