Michele Bachmann Used Fed. Loans That She Now Opposes
During an appearance at the National Press Club, GOP presidential contender Michele Bachmann (R) gave an ironic defense of her use of federal home loans, which she has denounced.
The Washington Post discovered that Bachmann and her husband signed for a $417,000 home loan backed by Fannie Mae or Freddie Mac just weeks before she called for the two mortgage giants to be entirely dismantled.
Bachmann has been a consistently fierce critic of mortgage lending programs and has advocated abolishing the government sponsored mortgage enterprises (GSEs) Fannie Mae and Freddie Mac. Yet she took out the maximum possible loan from those programs to finance her family’s move to a lavish 5,200-square-foot home on a golf course.