Tag Archives: Freddie Mac

The United States of socialism

The nationalization of Freddie Mac and Fanny May marks a major shift in the US policy of free-market, deregulated economy (to a more socialist policy), or does it? With my rant against the the bailout out of the way, lets see if this really is something different that the US government has had to do

Paying for someone else’s mortgage

Last week, the US government took control over Freddie Mac and Fanny May, the financial gaints of the US martage industry (and the crisis). Now this puts the US government in control of nearly half of the $12tn mortgage debt in the US (The two companies have lent or underwritten about $5.3 trillion mortgage debt