Sooner & larger

FHA Shortfall Seen at $54 Billion May Lead to Bailout
“It appears destined for a taxpayer bailout in the next 24 to 36 months,” consultant Edward Pinto said in testimony prepared for a House committee hearing in Washington today. Pinto was the chief credit officer from 1987 to 1989 for Fannie Mae, the mortgage-finance company that is now government-run.
My hunch is that the bailout will be needed sooner, and the final amount will be larger.

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