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Originally Posted by TheLastBoyScout
Spare me. I was correct. My facts were straight.
Fannie and Freddy are GSE's that are privately owned and they are not taxpayer funded.
They are but 2 of many institutions who gave out way too many sub-prime ARMs and are now paying the price. Bear Stearns was hit by the same thing and bailed out for the same reasons.
Government sponsored enterprise - Wikipedia, the free encyclopedia
Bailing out Fannie and Freddie was not an example of cutting bureaucracy as Palin stated. They were bailed out for economic stability and to keep outstanding mortgages intact... it was not bailed out to save taxpayer money. |
lbs, if this were so they would not be run by former gov. operatives and would not need to be the no.1 and 2 lobbyists mechanisms in the country, they have to always make sure they are one step ahead of what occurred today, as the string finally ran out and Tim has touched on exactly why as to their operating status and benefits accrued by straddling the fence at out gov.s allowance.
Bush signed a bill in july, he opened up our treasury, completely, anyone no matter how clumsy they put it, in vernacular you may find issue with, who wishes to stop the bleeding gets my vote.
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it was not bailed out to save taxpayer money
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of course it was, it was taken under stewardship to stop the bleeding as allowing it to continue would , cost MORE, each and every quarter as to what eventually will be needed from the TAXPAYERS.