Congressmen Paul Ryan and Jeb Hensarling sound a warning about the Freddie Mac/Fannie Mase bailout:
Congress is now being asked to further expand this taxpayer unfriendly bill to include a breath-taking bailout of Fannie and Freddie. This bailout could put taxpayers on the hook for as much as $5 trillion dollars worth of risk – that’s larger than the economy of every single country in the world except the U.S. or China. That’s enough money to buy 10 gallons of gas a week at today’s rates for every passenger car in the U.S. for more than the next 17 years. In the worst case scenario of these companies completely failing, though unlikely, taxpayers would see the $9.5 trillion national debt explode with the snap of a finger.
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