Grand Rapids, MI -- (ReleaseWire) -- 11/29/2012 -- If you happen to miss a broadcast of The Everything Financial Radio Show, you can still hear guest experts speaking with host Dennis Tubbergen about the latest twists and turns regarding the economy, finances and politics. Just go to http://www.everythingfinancialradio.com and listen to a podcast.
Tubbergen's last guest was Leslie Paige, who is the Vice President of Policy and Communications for Citizens Against Government Waste (CAGW) out of Washington, D.C. Founded in 1984 by the late industrialist J. Peter Grace and syndicated columnist Jack Anderson, CAGW is the legacy of the President's Private Sector Survey on Cost Control, which was more commonly known as the Grace Commission.
Tubbergen, who is an author, radio show host, and CEO of USA Wealth Management, LLC, spends a lot of time giving his opinions on the economy in his Moving Markets weekly newsletter at http://www.moving-markets.com and in his online financial blog. On November 22, 2012 Tubbergen's blog was titled, FHA - Also Broke.
"An article published recently in The Washington Post described the miserable financial condition of the FHA, or the Federal Housing Administration, the agency that insures home loans," began Tubbergen. "In short, the agency isn't far from needing a bailout of its own."
The November 15, 2012 article is quoted in part as saying, "An annual audit set for release Friday projects that the federal agency that insures millions of home loans across the country could face losses of $416.3 billion, a figure that far exceeds earlier estimates and one that raises the specter that the Federal Housing Administration could need taxpayer aid for the first time in its 78-year existence."
The article goes on to state the alarming numbers do not mean the agency is currently operating with a deficit or that it has insufficient funds to pay its insurance claims.
"While some may look at this situation and come to the conclusion that there is a need to figure out how to bail out the FHA, I see a different opportunity," explains Tubbergen. "Why not close the doors of the FHA and get the government out of the mortgage and mortgage insurance businesses in one fell swoop? We could get rid of Fannie and Freddie and the FHA and put mortgage lending back into the hands of the private sector where it belongs."
Tubbergen goes on to state he doesn't believe the government should be in the mortgage business or the insurance business or be in the business of picking winners and losers in business.
"If the market won't support a business, that ought to be enough reason to keep the government out of it too," concludes Tubbergen.
To read the blog in its entirety go to http://www.dennistubbergen.com and select his November 22, 2012 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be read at http://www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to http://www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.