Under this projection, foreclosures would be manageable and the reserves would quickly grow….
Original post:
FHA’s Cash Reserves Down Sharply
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The government's own rescue agencies, Fannie Mae, Freddie Mac, and FHA, are dead in the water, and the government's bank deposit insurance agency, the FDIC, says it has no more reserves to offset the coming next round of failing banks. .... Nor will Alan Greenspan (or Ben Bernanke) fess up that the devaluing of the dollar caused the world's key commodity markets to boost prices so sharply that ever more dollars were needed to pay for the same ingredients and that the rush ...