Source: New American
Freddie Mac has again entered the spotlight as a new report claims the government-sponsored enterprise betrayed American homeowners after placing multibillion-dollar bets that will pay off if homeowners remain shackled by costly mortgages with interest rates well above current rates. In a scathing new investigation, National Public Radio (NPR) and ProPublica, an independent investigative news service, uncovered multibillion-dollar investments made by Freddie in late 2010 that will only pay off if homeowners remain trapped in high-interest mortgages.
Read More: Freddie Mac Bets Against Homeowners and Refinancing
Cartoon by Bob Moran