Senate Democratic Leader Chuck Schumer slammed President Donald Trump’s announcement that he planned to take Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC) public, claiming it would only “line the pockets of the wealthy” while jacking up mortgage costs.
The Hill reports Schumer insisted that “experts have warned for years” against privatizing the government-sponsored enterprises, which have been under federal conservatorship since September 2008. Schumer, who never offered his own plan to end the conservatorships, declared without statistical evidence that Trump’s initiative would add between $1,800 to $2,800 to annual mortgage costs.
“Trump’s housing proposal to privatize Fannie and Freddie is yet another economic policy that will upend middle-class Americans looking to buy or refinance a home while helping line the pockets of the wealthy,” Schumer said in a statement. “Yet, Trump and his cronies only see an opportunity to loot the state, no matter the cost to hard-working families and our broader economy.”
Of course, he slams Trump for everything. Has one single Dem approved of anything he has done?
He’s absolutely correct. We don’t need costs for ANYTHING to go any higher than they already are!
Sigh, not calling him racist or hitler over this? New game plan I guess