...fewer home loans being available in the long run, as FEE's Sheldon Richman has noted.

As you read this piece, please note that the bankrupt Fannie Mae was given special "power" (and money) to bail out troubled "homeowners" (ie mortgage loan recipients) starting in January of 2009. Since that time, with billions spent, 57% of those homeowners who were "troubled" have defaulted on their loans, and the year is not yet done. In addition, with policies such as these, the government is preventing home prices from falling to more closely reflect their true value. This is a recipe for disaster, and, oh yeah, it's unconstitutional, if any of those politicians care.

http://www.nytimes.com/2009/11/29/business/economy/29modify.html?_r=2&hp&utm_source=The+Freeman&utm_campaign=2ffa781b83-In_brief_11-09-2009&utm_medium=email

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