Jim Rogers, CEO of Rogers Holdings, provides stellar insight on the financial decision of the government to takeover Fannie Mae and Freddie Mac. Mr. Rogers illustrates the lack of preparation for an absorption of this size on the American Tax payers. He calls this move socialism for the rich and claims China has a more open housing system than Americas.
What do you think of this decision to take over the housing giants, Fannie Mae and Freddie Mac?
Where do you see the housing market in the next 12 to 18 months?
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