Today the US news media figured out Fannie Mae and Freddie Mac are likely to fail without a government bailout. Gimmie a break.
Anyone with a brain who reads newspapers knows that back in early Feb our congress positioned Fannie and Freddie TO FAIL, making it inevitable that TAXPAYERS will take the burden of bailing out both those GSE’s. Congress made that certain when – in the worst mortgage crisis in 50 years – Congress tells Fannie and Freddie: “Please make more loans and be less cautious making those loans, oh, and please make bigger loans. Also, please reduce your capital requirements ratio. Keep less cash on hand! Don’t worry the American Taxpayer will bail you out when you go belly up. We (congress) need to help out our big FINANCIAL CONTRIBUTORS in the real estate industry and banking industry by having American Taxpayers foot the bill for this mortgage mess, though the mechanism of PLANNED FAILURE OF FREDDIE AND FANNIE”
And yet it takes our wonderful American news media six months to figure out as they apparently have done today that Fannie and Freddie will go under.
On a realated topic, I see that today Ben Bernanke in front of congress today, with a look on his face that seems to say “I CANNOT F&%#ING BELIEVE I ACCEPTED THIS SHIT JOB! I WAS A MORON TO DO THAT!”
Amoung all the flapping gums, who would you guess was the single congressman who stated the true facts and called Bernanke and Paulson to task for conspiracy of our federal government in manipulating financial markets and the US Dollar to protect government interests but harm American Taxpayers?
