This is an amazing chart from Calculated Risk. Defaults at Fannie Mae continue to explode exponentially well after the financial crisis has subsided. Persistently high unemployment is a major factor contributing to this problem and it isn’t going away any time soon.

While the president touts the profits made on the TARP the government must be losing it all and then some on Fannie and Freddie. Doesn’t it make you proud to know that as an American citizen you own a piece of this piece?

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