By Doug Cunningham

The Center for Economic and Policy Research says while shoring up mortgage giant Freddie Mac and Fannie Mae is necessary, they should not be given unlimited tax dollars without strings attached. The economic think tank says the incompetence of their management has made this government rescue necessary. The housing bubble collapse means the values of homes aren’t as high as the mortgages, triggering the crisis of loan defaults. The Center for Economic and Policy research says Fannie Mae and Freddie Mac contributed to the housing bubble by continuing to issue loans based on false bubble prices. So taxpayer support to keep these mortgage lenders afloat must come with stringent requirements on how the companies and their loans are managed to protect taxpayers from management irresponsibility.