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Resource ID: #18195
Subject: Housing
Source: Insight Magazine
Affiliation: 
Date: 1-May

Description

"A downturn in the economy could result in a huge bailout for U.S. taxpayers" because Fannie Mae and Freddie Mac have assumed the risk for more than half of all U.S. home mortgages, Insight Magazine reports. Politically appointed executives of the two companies are now getting rich while their companies run up massive debt. GAO reports say the companies are falling short of their affordable housing goals.

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