What a freaking travesty ! The government takes over the government chartered businesses to protect us all. I say let them fail. The Bush administration and the Fed never kept an eye on this runaway mortgage financing fiasco. And now we all get to pay for the criminal mistakes of a few.While those involved made plenty of money along the way. Where is the lesson learned when we taxpayers bailout every company that gets in trouble. I understand why these companies were created and that the govt agreed to cover them. That should have never happened. There should have been alot more oversight than there was. The banking industry is a total disaster. But that is no reason for the government to keep propping them up. There is point where this house of cards falls. Putting off into the future seems foolish. Taking a smaller loss now before the whole economy collapses is the only way to go.
Who are we going to borrow $25 billion from to fix this latest example of mismanagement ???
Isn't it nice that the Federal Reserve is independent and we have no say in the matter ???
why do "Neil Bush" and "The Keating 5" come to mind?
oh oh yeah....republicans!
So if the government 'marries' the 2 into one, will it be known as 'Fannie Mac'?
$250 Billion and counting
2 tax rebates funded by borrowing
The War on Terror funded by borrowing
911 surviors fund agained on borrowed money
Create TSA on borrowed money
Automakes have their hands out
Georgians promised money we dont have
African AIDS program.... more money
Dept of Homeland Security created out of thin air
200 300 450 billion dollar a year defiect spending.... stealing money from SSA This administration has already drove us past the brink. Just no one is talking about it yet. Instead we pay the interest on the debt and keep our eyes closed.