Tuesday, September 9, 2008

Smack my Fannie, Freddie

This is old news already but the bailout caused the federal debt to double. Would you lend money to a company like that? Would foreigners lend money (buy bonds) from Uncle Sam? And if they don't, who needs to buy dollars?

Just a happy thought for all you struggling homeowners watching departing Fannie and Freddie CEOs rake in millions in severance for destroying their companies.

3 comments:

Doug said...

Where is it written that everyone and their mother has to be a homeowner? Isn't that philosophy what is behind this whole mess? Why am I responsible for someone else not being able to make their mortgage payment, this government is growing more and more socialistic every day, republicans are just as bad at wasting tax dollars as democrats. I like Bob Barr, but as a libertarian, he doesn't stand a chance. I don't live far from the beach here in florida, I think I'm gonna go stick my head deep in the sand, I'll come up for air after the election.

Quick Takes Pro said...

I think the greed of mortgage banks and flippers did this, not the American Dream of owning a home. But I agree, we pausing homeowners and eve not owners who pay taxes should not be forced into this. But thids topic has been beat to death already in all media.

As for politics and the deficit, I saw a toon showing big deficits under fiscal conservatives Reagan, Bush I and Bush II but a surplus under the tax and spend Clinton. Don't argue with it. I know it is a really tiny sample size.

This blog is not about politics so let's not go there.

Doug said...

It may have been beaten to death by the media, but apparently not enough because while although that socialist obama has lost abit of his rock star glitter and his pole numbers have dropped like a rock, it sure seems like there are a lot of ignorant lazy people in this country that want the government to GIVE them a better life, they feel it's owed to them and the great messiah obama is that very person who will redistribute the money from those of us who are responsible and work hard into the hands of the lazy and irresponsible.I absolutely loath and abhor everything obama stands for and wants to impliment.
i know it's political, but we do have an important election a month away
doug