Geithner ADMITS in testimony ‘taxpayer exposed to losses’ of financial crisis

Liberty News

Geithner ADMITS in testimony ‘taxpayer exposed to losses’ of financial crisis

Geithner in Congressional testimony admits that taxpayers are responsible for absorbing the losses of Fannie and Freddie during the financial meltdown.
“As you know, the history of financial crises is largely a history of banks and real estate together. And the government ultimately is there. It’s just behind the banks with this implicit support that they don’t charge for. It still leaves the taxpayer expected…I mean, exposed to loss.”

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