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Loan Modification

: Mortgage Lender Implode-o-Meter

The True National Debt

By Implode-Explode Heavy Industries

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"Today our reported National Debt is $13.362 TRILLION. This is the first big lie. There are two entities named Fannie Mae and Freddie Mac that happen to be 80% owned by the US government. Anyone who thinks these two companies can operate without the backing of the US Government are delusional. The US taxpayer is on the hook for these two disastrously run companies. Somehow, government accounting doesn?t require their debt to be considered the responsibility of the US taxpayer. This is a fraud, pure and simple. Their debt is our debt."

Full post as published by Mortgage Lender Implode-o-Meter on August 24, 2010 (boomark / email).

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