The Greedsters Sequels: REVERSE GREED FOR FREDDIE MAC

Sunday, May 6, 2012

REVERSE GREED FOR FREDDIE MAC

NYT - The Federal Government controls the mortgage giant Freddie Mac after shoveling $13 billion into the company in 2010 to rescue it from default. Then, in 2011, Uncle Sam forked over an additional $ 7.6 billion. Now, on May 4, 2012, Freddie Mac has requested $19 million more for the first quarter of 2012 ( loss for the first quarter totaled $1.2 billion). All of this can be labeled "reverse greed".

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A General description of a "GREEDSTER" is any company, organization or individual for whom "ENOUGH IS NEVER ENOUGH".

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