Saving Fannie & Freddie

While I agree with a lot of what the Representative said, his comments about European socialist economies having "flat growth rates and lower standards of living" is inaccurate. Last I checked, the U.S. has a lower standard of living than most west European countries and Canada.

As an immigrant from an Eastern block country, I can sum up my disgust with what is going on with a few quotes:
???The American people will never knowingly adopt Socialism. But under the name of ???liberalism??? they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.???
-- Norman Thomas
(1884-1968) six-time U.S. Presidential candidate for the Socialist Party of America

???America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within.???
-- Josef Stalin
(1879-1953) Communist leader of the USSR

???If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered.???
-- Thomas Jefferson (1743-1826)

Do you really believe that what is even being considered is what is truly best for our nation and our children? I don't, and, it saddens me to say that a lot of people don't either... Ironically, health care does achieve the status of a "socialist" idea, but not privatizing profit and socializing losses.... Here are two more quotes about politics and politcians, I guess...

In order to become the master, the politician poses as the servant.
Charles De Gaulle, 1969

The rich require an abundant supply of the poor.
Voltaire

Yep, should have let them go. Homeowners would survive about as much as the money they put into saving these corps. Matter of fact, they need to stop throwing up houses left and right and instead invest in restoring these old gutted rat holes in old neighborhoods. If you invest in old neighborhoods instead of gutting wooded areas that we need to preserve then the Mack Daddy corps wouldn't be needed.

Just make sure the CEO gets his $19.8 million salary package!

We've spent this country to the brink. In all areas. I think we need a law that shows Americans where paycheck taxes go. Line items for defence debt, charity, etc. These bailouts teach people they can just spend entire industries out of existance and the tax payer will soak it up.

The Bear Stearns bailout was totally wrong, but the government can't let Fannie Mae and Freddie Mac fail. They're quasi-govermental agencies, and the perception has always been that Uncle Sam would not let them fail. In a perfect world it wouldn't be this way, but we don't live in a perfect world.

Enter Your Comment

Enter Your Comment

Enter Your Comment

Enter Your Comment

Bad deal for taxpayer. The same bunch who gutted Saving and loan. Took the healthy companys and gave the Gov't. sick one. Same here,not all of fannie mae are bad loans. Don't let the parasites wolf the good loan and leave the sick one for the taxpayer.These company have done great,it was the parasites selling,adjusting qualification on loan sold to fannie.

I warned everyone this was coming 4 years ago. Fannie and Freddies automated underwriting was doomed and primed to bring this on. No bail-out, they are responsible for everything that happened to the economy. Who is bailing me out, after 30 years in the mortgage industry I watched the collapse and no one has helped me and I did'nt get millions like Fannie's CEO. What about all the displaced mortgage workers that have nothing, can't get work and fought this for years. I am fed up with the rich getting everything for nothing.

LET THEM FAIL

Screw them! This is Capitialism not Socialism, some one will take their place. If you want proof that government bail-outs don't work, just look at the Airline Industry. You like paying for bringing clothes when you travel? This is a joke right? Why did these companies give out loans to people who didn't deserve them? Because the federal government would bail them out with our tax dollars like they've been doing since 9/11.