If we are to believe MDC Board member Robert Rendall (and we very much should, I fear), the Midland Development Corporation has provided a low cost (zero interest, actually) loan to a company (several companies maybe) who either wouldn't warrant traditional bank lending (or at least didn't pursue it) and now said company would probably fail should it be required to make good on the terms of it's "loan" leaving the taxpayers to foot the loss.

Gee, that's sound kind of familiar.......

Save in terms of size and scope, is there a whit of difference between the operational philosophy of the MDC in this case and that of Fannie Mae?

Earlier/Related: "So...those so-called "Clawback" provisions are really pretty worthless then, huh?".