bail out

FHA Drops a $1.7 Billion Bail Out Bombshell on Friday Night

The FHA is getting a $1.7 billion bail out from the Treasury.  Seems those reverse mortgages have managed to accrue $5 billion in losses.  The news was disclosed in a letter to Congress, not even a press release.  Most of us know the drill.  Have to issue news but want no one to read it?  Release it at 5pm on a Friday.