Fannie and Freddie Still Bleeding Tax Dollars WIth No Reform in Sight

The New York Post reports:

Contrary to what the Obama administration would have you believe, the biggest recipients of taxpayer funds during the financial crisis have not been Wall Street banks -- but the toxic twins, mortgage behemoths Fannie Mae and Freddie Mac.

And the House and Senate are now finalizing legislation to reform the financial sector -- yet the bill will leave the biggest bailout recipients untouched. In fact, Fannie and Freddie are guaranteed to continue siphoning money from American taxpayers.

That's right: The Democratic majority in Congress has made no attempt to reform these two entities, which have already cost us $145 billion. Moreover, Congress and the administration have been hiding the true cost of Fannie Mae and Freddie Mac from the American public -- while also using these off-the-books institutions to funnel money into special loan-modification programs that are also unaccounted for in the federal budget.

No word from former Freddie Mac board member Rahm Emanuel on this one.