Monday, July 16, 2007

Massachusetts' "Big Dig" Housing Bailout Sticks Nation with Bill Again

Quarter-Billion-Dollar Housing Bubble Bailout in Massachusetts

Fed Bailout for the Rich State: Wealthy Massachusetts' "Big Dig" of a Housing Bailout Is a Big Dig into the National Purse . . . Again

The wealthy state of Massachusetts is planning for the rest of the country to foot the bill for its housing bailout by getting most of the quarter-billion dollars ($190 million) in bad-mortgage refinancing from the federally-chartered Fannie Mae. Massachusetts taxpayers are on the hook for the remaining $60 million through a state bond issue.

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