Wednesday, November 9, 2011 – 09:00 a.m

Wells Fargo Bank, Bank of America, JPMorgan Chase and other institutions, who have resisted helping struggling homeowners, dumped billions in bad mortgages on the government-owned Federal National Mortgage Association (Fannie Mae) in the 3rd quarter of 2011.

A practice which has been ongoing for years now.

Fannie Mae recorded a loss of $7.8 billion for the period ending September 30.

A bill laid at the feet of American taxpayers.

The banks, on the other hand, continue on a foreclosure frenzy that mocks all of President Barack Obama’s attempts to provide assistance, while at the same time receiving virtually free financing from the Federal Reserve.

The institutions as a whole, with the exception of Bank of America, continue to book billions in profits, while the taxpayer gets hammered.