Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute. “The situation is they are losing gobs … Reply | Quote. And where’s the investigation of the Federal Reserve Bank? This whole scam keeps being pushed aside by the very people who are entrusted to oversee our interests yet they are the biggest frauds. Lag Indicator …

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Since the taxpayers are going to lose $400 billion from Freddie …