Tuesday, August 6, 2013

Another Bank Has To Pay Up To Fannie & Freddie!

UBS Americas Inc. has agreed to 885 million settlement over bad mortgage bonds sold to Fannie and Freddie during the subprime boom a few years back.

They are the 3rd, after General Electric and Citigroup Inc, to settle with FHFA over bad bonds sold to Fannie and Freddie.

Again, GOOD, I say! Fannie and Freddie was bailed out by our government back in 2008. We, the taxpayers, are ultimately taking any loss. So, if they get screwed, we get screwed.

470 million is going to Freddie and 415 million going to Fannie. Just a drop in the bucket. But the more drops in that bucket, the fuller it will be!

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