Obama has reason to know his recent nationalization of the home mortgage market will both destroy housing as an appreciating investment and evaporate equity in homes belonging to millions of Americans. The Treasury Dept. recently removed a $200 billion cap on aiding Fannie Mae and Freddie Mac providing each company a taxpayer Blank Check to cover mortgage losses. Because the two companies secure 70% of new home mortgages, that will leave only a tiny number of private mortgage lenders. Meanwhile Rep. Barney Frank is again advocating loans to unqualified-home buyers foreseeable to cause more foreclosures, forcing down home prices and values that support $Trillions in bank mortgages: U.S. taxpayers just spent $billions to prop up banks after the sub-prime mortgage crash. Dropping home selling prices are causing local governments to collect less property tax, forcing layoffs of government employees. Consequently CA and other States are raising income, sales and other taxes to recover lost property taxes.