Posted: Last week, we swear. The postage must be wrong or something. We'll get that out today. That's a promise.WASHINGTON, D.C. -- The Treasury Department and Federal Reserve took a historic step yesterday in agreeing to provide additional lending support to Freddie Mac and Fannie Mae as they continue to incur mounting losses tied to multiplying mortgage defaults. The Greenville, Miss., couple was visibly moved by the federal government's generosity, which they heard out about while watching the local evening news.
"I don't know how the government came to find out that our little old family from rural Mississippi was having trouble making the mortgage payment, but we're extremely grateful," said Freddie Mac Gibson, 38. Buddy Piszel, Executive Vice President at the Federal Home Loan Mortgage Corporation, also known as Freddie Mac, laughed when he heard about the misunderstanding.
"I can see how these two would think we were talking about them and not two major banks," he said. "I mean, who names a bank Fannie Mae or Freddie Mac anyway? They sound like a candy company and a pasta dish named after a stand-up comedian. No wonder investors don't have any confidence in these two institutions."
But Freddie Mac and Fannie Mae Gibson are staying hopeful. "We're the only Freddie Mac and Fannie Mae in the tri-state area. Surely the federal government wouldn't let its own citizens lose their homes."
However, Piszel explained, the fact remains that the Gibsons need to pay their mortgage.
"They're three weeks away from defaulting, so they better get off their asses, stop watching sh*tty local news and figure out how to start paying us back," he said. "The government only bails out inefficient, top-heavy institutions that make questionable lending decisions who then come crying to us when their overreaching, insatiable greed gets them in trouble. We don't have time to deal with hard-working individuals who are $3,000 behind on their house payments. How dare they?"
"We want our money," he added.
