Fannie and Freddie: up to $148B

[Lime]

and counting...

http://www.theatlantic.com/business/archive/2010/05/fannie-like-freddie-reports-another-huge-loss-and-needs-more-cash/56444/

[Slyhawk]

Most of Congress has no intention of fixing this problem presently. The financial reform bill currently provides no effort at reforming Fannie and Freddie. Last week, Senator John Ensign (R-NV) proposed an amendment that would have limited the growth of Fannie and Freddie to 3% of GDP. It failed 35-59.

And:

The Obama administration has said it intends to address Fannie and Freddie sometime next year.

Punt this one to an off year. Wouldn't want a debate right now about the government's involvement in the financial meltdown.

[The Tin Man]

Too big to fail.

[xr4ticlone]

We're all lucky that F&F are around...they've done so much for us. Heck before those two people could build and pay off a house in 10 years or less. But the Gov involvement in house lending has made it possible to inflate home prices through the roof! Sure we're getting stuck with $500,000,000,000 worth the piss poor loans...but Franklin Reins and other political hacks would have never been able to amass such fortunes in the private sector!

What a fucking mess.

[mobyditch]

If you read the comments you'll know why F&F are in the position they are intoday. The comment clearly stated "for the last year fannie and freddie have been providing the only liquidity in the mortgage market. if they had not existed last year the housing market would have frozen up completely."

Now I don't expect the contards who commented here to understand the implications of this statement because they are just little parrots of the GOP kind..

So I have to sly and x, what would you have done in place of F&F making these loans??