Thursday, December 06, 2012

HUD Secretary Donovan says he can't promise FHA won't need bailout

The L.A. Times reports:
A top Obama administration official said Thursday that he could not guarantee that efforts to shore up a key government housing agency won't save it from needing a taxpayer bailout next year.
Because 30-to-1 leverage is riskier than any hedge found out there today. Your federal government at work.