The US housing market still appears in tatters , which is showing up on the books of more federal agencies that have stepped in to back it and may end up needing bailouts. The US has already poured billions of dollars into Fannie Mae and Freddie Mac since taking them over in 2008, and the US Treasury has promised them unlimited aid until the end of 2012. Now a new study shows the Federal Housing Authority which backs one-third of all new mortgages is facing losses of $50 billion in the coming years and could end up needing a bailout. They guarantee $1 trillion dollars in loans. Meanwhile the US job market gains are looking, quite literally, temporary. We talk to Michael Pento, President of Pento Portfolio Strategies, about solutions.
Watch Part 1 @ http://www.youtube.com/watch?v=JiIus8Y4yxw
Watch full episodes of Capital Account with Lauren Lyster: http://www.youtube.com/capitalaccount
Follow Lauren on Twitter: http://twitter.com/LaurenLyster
Watch Part 1 @ http://www.youtube.com/watch?v=JiIus8Y4yxw
Watch full episodes of Capital Account with Lauren Lyster: http://www.youtube.com/capitalaccount
Follow Lauren on Twitter: http://twitter.com/LaurenLyster
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