Essay on Political: President of the United States and Housing Market

Submitted By Tori123456
Words: 602
Pages: 3

July 1, 2010
The Wall Street Journal President Obama had a speech about the Fannie Mae and Freddie Mac overwhelming miss handled financial loss in the housing market. Fannie Mae along with Freddie Mac has provided loans to Americans that was out of their means. Apply for loans through out the years was an easy task to handle, leaving a lot of Americans with loans that couldn’t be replayed The president speech was information on why the housing market is in a rout and how it can be fixed. Offering different types of programs and way to help the housing market to come to a balance is what President Obama is trying to implement. The Americans who have bought their houses within their means have to consist with the raises in their tax dollars to help out those that didn’t. This is one of the Presidents’ plans to help the Americans with keeping their dollars in their pockets. The President has set up a conference with Fannie Mae and Freddie Mac in stopping their privileges in what they have been receiving from the Government. In doing this President has hired companies to spread money around to different states to help out these homeowners. There was a $145.9 billion dollar loss to taxpayers making it be the largest bailout in the United States. President Obama has a fight up against Fannie Mae and Freddie Mac for their lack of negligence to the billions of loans that was undermined to the Americans. President Obama has a straight to the point and factual idea on how he is going to implement his plan. The thought of this action are upon the government and the congress to help fix this huge disaster that has taken place under their noses. How long will it take to fix? What are the Americans going to do about their homes? How are we going to get the housing market back on track for those who want to purchase homes? These are some of the question that the Americans want to know and here from their congress. Fannie Mae and Freddie Mac had been doing business for a long time with the government, in the help to assist low income and first time homeowners to purchase their first home. These two government lending institution putting the United States in a…