Fannie Mae Bailing Out Bank of America

This maybe a great way for Bank of America to get out from under all the bad loans they have, but it does not seem like such a great deal to me for the American Taxpayer. If you recall it was not to long ago that Fannie Mae reported a 2.9 Billion Dollar loss for the second quarter of this year, and had plans to ask the American Taxpayer for 5.1 Billion Dollars to cover these loses, as well as future ones. If Fannie Mae is already operating in the red, how much more in the red are they going to be after this move, and how much more are they going to ask the American Taxpayer for?

This sure seems like a back door way to bail out Bank of America, and once again the American Taxpayer is being asked to anti-up the cash to do it. I don’t want to see Bank of America go under, that in my opinion would not be good for anyone. But to dig deep into the pockets of the American Taxpayer, seems very unfair to me. Bank of America got themselves into this mess with their takeover of Countrywide, and it does not seem to me that they have done all they can do to correct the situation on their own.

It seems that everyone these days is getting bailed out expect for the Taxpayer, we just keep on getting taxed more and more, with no end in sight. I only see one way to stop this madness, and that is to clean house in Washington on both sides of the isle. They are all a part of this problem no matter what direction they point their fingers in, and it is time for the American Taxpayer to make them accountable for it.

************************************************************************************

Who To Call For Your Mortgage Needs In Connecticut:

George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.