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FHA faces prospect of first-ever taxpayer bailout

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Taxpayers could be left holding the bag for the Federal Housing Administration with a nearly $1 billion bailout for the first time in the agency's history, FHA Commissioner Carol Galante told a Senate Appropriations Committee panel. President Obama's 2014 budget, submitted at the end of April, requested up to $943 million from the Treasury to cover its required reserves. The agency must...