Question by Bopped: Is the pending economic stimulus legislation an attempt to nationalize the home mortgage industry?
Seem like raising the caps on federally insurable mortgages and having the various gov’t underwriting agencies purchase unvetted portfolios of mortgages effectively nationalizes the home mortage industry. SInce I am reading that there may be $ 2 trillion of bad loans out there, I suspect that means we as taxpayers will then be on the hook for that much in bad loans. Why do I think we are seeing another Savings and Loan Scandal? I sure hope I am wrong.
Best answer:
Answer by rhymingron
No
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