Freddie Mac Bets Billions Against Struggling Homeowners

Fire it up

180

AP Graphics

Freddie Mac Betting Against Struggling Homeowners

By Chris Arnold, NPR

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

These investments, while legal, raise concerns about a conflict of interest within Freddie Mac.

What do you think?

Comments

Pic of the Day

Oh Miley!

In this photo provided by the Las Vegas News Bureau, Miley Cyrus leaves Hanna Montana behind and walks the red carpet in a daring outfit for the 2012 Billboard Music Awards at the MGM Grand on the...

More Pics

Quote Patrol

Sen. Rob Portman on President Obama

"He will have to explain to the American people why his vision for bigger government, more spending, and higher taxes will work over the next four years when it hasn't worked in the past three and a half years.” – Sen. Rob Portman on President Obama

More Quotes

Fox Nation Salutes

Apple CEO Made $387 Million Last Year

Apple's Cook Top-Paid US CEO in 2011: ReportApple chief executive Tim Cook topped the list of the best-paid CEOs in the US in 2011 thanks to stock options that put him more than $300 million above...

More Salutes

Poll

Twitter Brigade

washingtonpost: #SpaceX rocket launches, opening new era of spaceflight http://t.co/K9X2bF99

postpolitics: Justice Department probing donations to Josh Mandel and Jim Renacci http://t.co/GykpqoI9

nytimes: Kakha Bendukidze Holds Fate of Gene-Engineered Salmon http://t.co/2xdBdPJ4

nytimes: Ruth Jersey Sells for $4.4 Million, Nearly Quadruple Previous High for Ruth Memorabilia http://t.co/FJ3pJxVI

memeorandum: Worst Market Since Reagan Greets Obama Before Election (Bloomberg) http://t.co/uw7yYlb6 http://t.co/F91opCKb