Was I right?!

I previously posted:

"Why does this matter? Because together, Freddie and Fannie have about $4.5 trillion in liabilities. That's not to say all their loans will default and the US taxpayer will be on the hook for $4.5 trillion, but even if 20% failed, about equal to the proportion of subprime mortgages your standard bank issued, that's a $900 billion hit. We already owe $12 trillion. How did we get here to begin with? Because of the Community Reinvestment Act of 1979, signed by Jimma Carter, which forced banks to open branches in poor communities and issue loans to poor and subprime borrowers."

In today's CNBC article, "According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion."