James Lockhart: Forget About It! Taxpayers Will Never Be Repaid For Fannie & Freddie Bailouts

This should come as a surprise to no one.  Fannie and Freddie each has authorization for up to $200 billion under current law.  So far they have tapped taxpayers for $85 billion combined, but you can safely assume they will need the entire $400 billion before it's over, according to recent research from Chris Isidore.

Outgoing regulator for Fannie and Freddie sat down last week with Bloomberg to discuss the future for the bailout black holes.  The Washington Post also has this update from Lockhart.

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[DailyBail]

New research from Chris Isidore

http://dailybail.com/home/bailouts-of-phoney-fraudie-will-eventually-cost-taxpayers-20.html

[DailyBail]

Washington Post update

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/30/AR2009073003937.html