Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It's another sign that the taxpayer bill for stabilizing the housing market will keep mounting.
Asking the government to keep you afloat as an alternative to actually operate under sound fiscal principles, that is. Of course, I neither:
- Hemorrhage money from every fiscal pore; nor
- Own my very own Congressman (Hi, Barney Frank!)
...so I suspect that my request is going to go precisely nowhere. But that's OK: this situation is an excellent motivator.
Crossposted to Moe Lane.