Reply With Quotegood thing we're getting rid of him (Bush/Cheney), and there's a new sheriff in town (McCain/Palin)
Never mind. Just the mismanaged and deregulated mortgage, insurance and real estate market socializing their losses on the taxpayers backs. Thank God it isn't some poor person scheming the system.
No really. For all intents and purposes, we nationalized the backing of over $6 trillion of asset backed debt - the worthiness of which, is uniquely unknown.
For the people that like to call my Dirty-Effin-Hippie-ass a socialist: Our Republican President, just put every taxpayer on the hook for half of the mortgage debt in this country. We essentially SOCIALIZED Fannie Mae and Freddie Mac - in a conservatorship arrangement announced Sunday, negotiated by the Republican run Executive Branch.
You think your wallet hurts because poor people are ripping you off?
One beautiful thing about having a government of the corporations, by the corporations, and for the corporations is that every disaster is measured in terms of economic loss. It's sort of like getting your arm sheared off in a car accident and thinking, "Damn, now it'll take longer to fold the laundry" as blood spurts from your arteries. - The Rude Pundit
good thing we're getting rid of him (Bush/Cheney), and there's a new sheriff in town (McCain/Palin)
McCain and Palin urge Fannie, Freddie restructuring
(Reuters) - Republican White House nominees John McCain and Sarah Palin would ensure mortgage giants Fannie Mae and Freddie Mac were permanently restructured and downsized, the pair wrote in The Wall Street Journal.
In an opinion column, they said the bailout of the country's two biggest mortgage finance companies "gets at the short-term heart of the problem". They also said they would no longer use taxpayer backing to serve lobbyists, management, boards and shareholders.
The government seized control of the companies on Sunday, launching what could be its biggest bailout ever to support the U.S. housing market, and ward off more global financial turbulence. The action was prompted by worries over the companies' shrinking capital.
"In the future, Fannie, Freddie or any government organization should never insure a loan when the homeowner doesn't have enough of his or her own capital in the investment," McCain and Palin wrote in the column.
Democratic nominee Barack Obama has called the rescue plan a necessary move and said he'd be reviewing the details of the plan and monitoring its impact.
http://www.reuters.com/article/topNe...16897720080909
I do not believe the gov't should be bailing out Fannie Mae/Freddie Mac. Loans should never have been given out to those who couldn't afford them.
he can't run again
You're not getting rid of him; he can't run again. Rules and regulations: Law implies.Originally Posted by RaginTaxpayer
good thing we're getting rid of him (Bush/Cheney), and there's a new sheriff in town (McCain/Palin)
Look closer, and you will learn that nobody is getting rid of anything. If a republican or democrat occupies the white house, the congress, and the supreme court, you can count on the fact that NOTHING will change!!!
fight for power
It's natural for a human to fight for power and control.
good thing we're getting rid of him (Bush/Cheney), and there's a new sheriff in town (McCain/Palin)
heh.
EDIT: http://www.youtube.com/watch?v=gHABGmgo5Ng
(Youtube not working?)
One beautiful thing about having a government of the corporations, by the corporations, and for the corporations is that every disaster is measured in terms of economic loss. It's sort of like getting your arm sheared off in a car accident and thinking, "Damn, now it'll take longer to fold the laundry" as blood spurts from your arteries. - The Rude Pundit
now you have it syl , they're all one & the same............
This "youtube" is link not working at all ?
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