How does the government get away with this?
They bail out Fannie Mae and other rich, "toxic paper" loan companies while Mom-and-Pop businesses die. Now they want to tighten the noose on Middle America by denying home loans to those hardest hit by the money crunch. Here’s the latest story, linked below.
http://realestate.yahoo.com/promo/cant-anyone-afford-my-home.html;_ylc=X3oDMTFqb3E0dnNkBF9TAzI3MTYxNDkEX3MDOTc2MjA0NjUEc2VjA2ZwLXRvZGF5BHNsawNjYW50LWFmZm9yZA–
So….do you agree that Fannie Mae and Freddie Mac should have died like the middle and lower class businesses before them if they were only going to cater to the rich again? Is the new pattern for America about capital gains but socialist losses? Your thoughts.
I think it is catering to the people who are already wealthy and won’t suffer anyway. They will continue living in their mansions and driving their Mercedes.
I also think this whole thing is really a cover up of a false economy and an effort to make the public believe we "need" a buy-out and that it will help us all. I am not so convinced.
February 8th, 2010 at 4:48 pm
the government has gotten away with so much more than this.
this is just a walk in the park.
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February 8th, 2010 at 5:08 pm
yes they should have, its just that many of the high government officials have deals with them they will lose their money
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February 8th, 2010 at 5:24 pm
I think it is catering to the people who are already wealthy and won’t suffer anyway. They will continue living in their mansions and driving their Mercedes.
I also think this whole thing is really a cover up of a false economy and an effort to make the public believe we "need" a buy-out and that it will help us all. I am not so convinced.
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February 8th, 2010 at 5:39 pm
Fannie & Freddie should not be allowed to die. That would make it so that only an elite few could afford a home and ordinary people would have to return to a lifestyle where we inherit and live in our parent’s house. I like the idea of buying and selling your home every five to ten years so you can upgrade as your income increases.
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February 8th, 2010 at 5:45 pm
Government gets away with this because YOU LET THEM.
America re-elected Bush. The WHOLE WORLD knew he was toxic during that election, but you went ahead and gave him another 4 years.
Even now, almost HALF of Americans want to elect someone who’ll just continue the same, failed policies.
Worldwide, McCain’s rating is 20% or lower.
WHAT’S WRONG WITH YOU PEOPLE?
DON’T YOU GET IT?
And now you’re paying the price.
As for Fanny and Freddie, no, they could have been allowed to fail – the government would have had to assume 50% of the outstanding motgages in the country if they did – it would have been an absolute mess and your economy would have simply sunk under the load when the AIG-Lehman scandal hit.
There would have been no bailout because there wouldn’t have been an economy left to save.
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February 8th, 2010 at 5:52 pm
This whole thing is so scary and the long term implications so great, I have a hard time understanding why every single American has not taken to the streets to protest this bailout. Yes, it will likely mean recession, but we can come back from that. Especially if we don’t spend an additional $700 billion dollars of non-existent tax dollars to bail out multi-billion dollar banks. Do you think the CEO’s are going to suffer? WE will suffer, and for YEARS and YEARS to come.
WTF Republicans! I thought you were AGAINST socialism? What the hell do you call this?!
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February 8th, 2010 at 6:33 pm
All you have to do is see how much the government spends in a year. Look how many trillions of dollars the "country" (government) is in debt.
See how the government takes care of other countries, but they still ignore the needy, homeless problem in our own country.
Look how the price of EVERYTHING keeps going up, because big businesses says the cost of materials is on the rise, talk about a paradox!
See how many wealthy men and women are in the military….none!
The problem is the government is too big. We the people feel like "big brother" knows best…I think we need to really open our eyes, before they decide we don’t need to see/hear/vote/decide what’s best for this country.
It almost seems like they are trying to weed out the poor and middle-class, doesn’t it? Think about that.
It’s scary as hell to see what kind of country this will be like if this type of governing keeps going the way it is.
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February 8th, 2010 at 7:06 pm
The way society is structured there is no other choice.
Say for instance the $700 million was used help out "Main st".
Main st would have less impetus in contribution to the economy, so this would continue the general negativity, minus a few institutions which also decreases revenue for the economy, affecting growth, services, law and order… etc.
If the 700million were used to bail out "Wall st," the companies would be save their "link in the chain," and everyone rides the storm (and some make a lot of money -as per usual)
It’s an unwinnable situation regardless for the U.S taxpayer.
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greed
February 8th, 2010 at 7:41 pm
Because even though I’m a Rep, one of the things I strongly disagree with My Party about is that they are totally and completly in the Hip Pocket of Big Business, which sucks.
Teddy Roosevelt was the last Rep president not to sell out to the Big Corporations, shame We can’t find another Pres like Him.
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February 8th, 2010 at 8:02 pm
Illuminati!!!!!!!!!!!!!
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