We always knew this was coming, They always knew this was coming and they always knew the taxpayers were going to pick up yet another Ponzi Tab to another brilliant sub-prime cover up!
FOX BUSINESS-
We said it was the Federal Housing Administration, which sells lenders a 100% guarantee against defaults on home mortgages typically for lower income people. FHA has seen defaults skyrocket on these loans.
But the Federal Housing Administration fought us vigorously on our story. So did liberal economic research groups.
Turns out they were wrong.
As the FHA is now set to soon release its annual report, the University of Pennsylvania’s Wharton School estimates that the FHA faces around $50 billion in losses in coming years.
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