The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Paul Kern who wrote (124045)	5/19/2008 7:50:59 PM
From: patron_anejo_por_favor	Read Replies (2) of 306849

>>Senators Christopher Dodd, the panel's chairman, and Richard Shelby, its top Republican, agreed to pay for the program through an affordable housing fund financed by Fannie Mae and Freddie Mac, Dodd said today in a conference call with reporters. The legislation would also establish a new regulator to oversee the two government-sponsored companies, according to a statement from the banking committee.<< So yet another toothless watchdog to gum FNM and FRE while they run wild? The third in 4 years? Color me unimpressed.....<NG> >>The FHA program, which would insure up to $300 billion in loans, was estimated to cost taxpayers $1.7 billion over the next five years, according to congressional analysts. Those costs could run higher if foreclosures exceed forecasts.<< I'll say it right now: Before this is over this program will cost taxpayers over 30 billion dollars. Consider it 'payback' for the Jamie Dimon/JPM/BSC "Crime of the Century", only this time the little people stick it to the rest of the taxpayers after the Big Guys had their turn. As a taxpayer, I feel like I'm in the middle of an S&M three way, with no 'safety word'.......

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