Monday Morning Cup of Coffee: CFPB under the gun again
HousingWire - June 22, 2015 - June 22, 2015
By Trey Garrison
The shareholders suing Treasury certainly agree that taxpayers entitled to significant compensation for the risk borne in the $187 billion bailout of Fannie and Freddie, just as they are entitled to recompense for the $426 billion dollars in bailouts of the big banks and auto industry authorized under the TARP program. But what Royce fails to mention, however, is that the GSEs are already far and away America’s most profitable bailout, having returned over $40 billion to date in profit on top of what the Treasury invested.
What shareholders – and anyone honestly invested in some kind of justice here should be asking – is why does the government continue to let taxpayers bear all of risk at the point of first-loss under the guise of repayment?
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