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> Until 2010 they were backed by the government The same kind of loans-- not all loans, but the same kind as were before-- are still backed by the federal gove
by muzz 11y ago
> Until 2010 they were backed by the government
The same kind of loans-- not all loans, but the same kind as were before-- are still backed by the federal government.
What happened in 2010 was that the government took out the middleman ie the banks, saving taxpayers around ~$7B/year.
- jonknee 11y agoYes, hence why I said: > Post 2010 the loans are issued by the government so you cut out the middleman taking all the profit.