The Two Biggest Pawns In Obama's "Hide- The-Deficit" Game

You remember Fannie Mae and Freddie Mac don’t you?

They are the two infamous Government-Sponsored Enterprises (that’s mumbo-jumbo for private corporations that have the backing of taxpayers to bail them out when their greedy managers leverage them up like balloons to generate mega bonuses for themselves) that guarantee mortgages.

They guarantee mortgages so those debt obligations can be easily packaged into mortgage-backed securities and sold to investors who want the highest yield possible with the guarantee (wink, wink) that the U.S. government won’t let them default.

Well, those investors were right.

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