Mortgage bail out questioned

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Stan Stricker
Friday, August 1, 2008

A local congressman speaks out against the mortgage company bail out.

The American Housing Rescue and Foreclosure Prevention Act is a step in the wrong direction according to Congressman Paul Ryan. The Republican from Janesville tells WCLO's Stan Milam Show mortgage lenders like Fannie Mae and Freddie Mac will now have a free hand to continue funding risky mortgages. Ryan calls it an expensive bail out. He says it could add $1.6 trillion to the nations debt .

Ryan predicts the same companies could be back for more of the taxpayers money in a few years, because of a lack of reforms.

Last updated: 10:04 pm Thursday, December 13, 2012

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