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September 8, 2008 at 8:26 PM in reply to: A sad day for the USA.. Taxpayers take on billions of risk. #267999September 8, 2008 at 8:26 PM in reply to: A sad day for the USA.. Taxpayers take on billions of risk. #268219
hipmatt
ParticipantNo, I’m not the author, as mentioned, Peter Schiff is, I guess I forgot, I usually give a link and the author, sorry.
Anyways I am upset… Michelle Malkin has a few words to say about it over on her blog as well…
http://michellemalkin.com/2008/09/08/here-it-is-the-mother-of-all-government-bailouts/
Here it is: The mother of all government bailouts
By Michelle Malkin • September 8, 2008 10:32 AMScroll for updates…severance for CEOs?
What I wrote in July:
I’ve long warned of the inexorable bailout frenzy in the wake of last year’s stimulus-palooza. The Fannie/Freddie rescue will make the Bear Stearns bailout look like chickenfeed.
Well, welcome to the MOAB nightmare come true.
Taxpayers will be on the hook for $200 billion — with a “B” — in capital and credit lines to both Fannie Mae and Freddie Mac. And that’s just the starting estimate. When do government projections ever get it right? And when do they ever overestimate the cost to taxpayers?
Both parties will twist themselves in semantic pretzels to argue that this isn’t a massive, socialist bailout scheme. Cut the bull. It walks and squawks like one because it is one. This is more of the same profit-side, crony capitalism and loss-side socialism. Who benefits? Liberal corruptocrats like Jamie Gorelick.
And what do we get for our money?
The fundamentals of the housing market will not change. We’ll pay for government intervention to keep home prices artificially high, while helping the two federally-sponsored enterprises rescue some of the nation’s most toxic loans.
When I called for the “Suck It Up” solution to the housing crisis, I didn’t mean that government should suck up our money. Crikey.
September 8, 2008 at 8:26 PM in reply to: A sad day for the USA.. Taxpayers take on billions of risk. #268236ParticipantNo, I’m not the author, as mentioned, Peter Schiff is, I guess I forgot, I usually give a link and the author, sorry.
Anyways I am upset… Michelle Malkin has a few words to say about it over on her blog as well…
http://michellemalkin.com/2008/09/08/here-it-is-the-mother-of-all-government-bailouts/
Here it is: The mother of all government bailouts
By Michelle Malkin • September 8, 2008 10:32 AMScroll for updates…severance for CEOs?
What I wrote in July:
I’ve long warned of the inexorable bailout frenzy in the wake of last year’s stimulus-palooza. The Fannie/Freddie rescue will make the Bear Stearns bailout look like chickenfeed.
Well, welcome to the MOAB nightmare come true.
Taxpayers will be on the hook for $200 billion — with a “B” — in capital and credit lines to both Fannie Mae and Freddie Mac. And that’s just the starting estimate. When do government projections ever get it right? And when do they ever overestimate the cost to taxpayers?
Both parties will twist themselves in semantic pretzels to argue that this isn’t a massive, socialist bailout scheme. Cut the bull. It walks and squawks like one because it is one. This is more of the same profit-side, crony capitalism and loss-side socialism. Who benefits? Liberal corruptocrats like Jamie Gorelick.
And what do we get for our money?
The fundamentals of the housing market will not change. We’ll pay for government intervention to keep home prices artificially high, while helping the two federally-sponsored enterprises rescue some of the nation’s most toxic loans.
When I called for the “Suck It Up” solution to the housing crisis, I didn’t mean that government should suck up our money. Crikey.
September 8, 2008 at 8:26 PM in reply to: A sad day for the USA.. Taxpayers take on billions of risk. #268283ParticipantNo, I’m not the author, as mentioned, Peter Schiff is, I guess I forgot, I usually give a link and the author, sorry.
Anyways I am upset… Michelle Malkin has a few words to say about it over on her blog as well…
http://michellemalkin.com/2008/09/08/here-it-is-the-mother-of-all-government-bailouts/
Here it is: The mother of all government bailouts
By Michelle Malkin • September 8, 2008 10:32 AMScroll for updates…severance for CEOs?
What I wrote in July:
I’ve long warned of the inexorable bailout frenzy in the wake of last year’s stimulus-palooza. The Fannie/Freddie rescue will make the Bear Stearns bailout look like chickenfeed.
Well, welcome to the MOAB nightmare come true.
Taxpayers will be on the hook for $200 billion — with a “B” — in capital and credit lines to both Fannie Mae and Freddie Mac. And that’s just the starting estimate. When do government projections ever get it right? And when do they ever overestimate the cost to taxpayers?
Both parties will twist themselves in semantic pretzels to argue that this isn’t a massive, socialist bailout scheme. Cut the bull. It walks and squawks like one because it is one. This is more of the same profit-side, crony capitalism and loss-side socialism. Who benefits? Liberal corruptocrats like Jamie Gorelick.
And what do we get for our money?
The fundamentals of the housing market will not change. We’ll pay for government intervention to keep home prices artificially high, while helping the two federally-sponsored enterprises rescue some of the nation’s most toxic loans.
When I called for the “Suck It Up” solution to the housing crisis, I didn’t mean that government should suck up our money. Crikey.
September 8, 2008 at 8:26 PM in reply to: A sad day for the USA.. Taxpayers take on billions of risk. #268311ParticipantNo, I’m not the author, as mentioned, Peter Schiff is, I guess I forgot, I usually give a link and the author, sorry.
Anyways I am upset… Michelle Malkin has a few words to say about it over on her blog as well…
http://michellemalkin.com/2008/09/08/here-it-is-the-mother-of-all-government-bailouts/
Here it is: The mother of all government bailouts
By Michelle Malkin • September 8, 2008 10:32 AMScroll for updates…severance for CEOs?
What I wrote in July:
I’ve long warned of the inexorable bailout frenzy in the wake of last year’s stimulus-palooza. The Fannie/Freddie rescue will make the Bear Stearns bailout look like chickenfeed.
Well, welcome to the MOAB nightmare come true.
Taxpayers will be on the hook for $200 billion — with a “B” — in capital and credit lines to both Fannie Mae and Freddie Mac. And that’s just the starting estimate. When do government projections ever get it right? And when do they ever overestimate the cost to taxpayers?
Both parties will twist themselves in semantic pretzels to argue that this isn’t a massive, socialist bailout scheme. Cut the bull. It walks and squawks like one because it is one. This is more of the same profit-side, crony capitalism and loss-side socialism. Who benefits? Liberal corruptocrats like Jamie Gorelick.
And what do we get for our money?
The fundamentals of the housing market will not change. We’ll pay for government intervention to keep home prices artificially high, while helping the two federally-sponsored enterprises rescue some of the nation’s most toxic loans.
When I called for the “Suck It Up” solution to the housing crisis, I didn’t mean that government should suck up our money. Crikey.
ParticipantAmericans are wising up and seeing the lack of substance and experience in Obama.
No one wants higher taxes, a president who has a record of not voting, and someone who isn’t capable of defending the country. The fact that he is a smooth talker means nothing to the average person.
McCain’s service to his country is second to none, I think Americans appreciate that. Combine that with his rare ability to reach across the isle and accomplish things, gives Americans hope. Palin is obviously helping McCain as well. Looks like all the hypocritical left wing trash talk on her backfired.
ParticipantAmericans are wising up and seeing the lack of substance and experience in Obama.
No one wants higher taxes, a president who has a record of not voting, and someone who isn’t capable of defending the country. The fact that he is a smooth talker means nothing to the average person.
McCain’s service to his country is second to none, I think Americans appreciate that. Combine that with his rare ability to reach across the isle and accomplish things, gives Americans hope. Palin is obviously helping McCain as well. Looks like all the hypocritical left wing trash talk on her backfired.
ParticipantAmericans are wising up and seeing the lack of substance and experience in Obama.
No one wants higher taxes, a president who has a record of not voting, and someone who isn’t capable of defending the country. The fact that he is a smooth talker means nothing to the average person.
McCain’s service to his country is second to none, I think Americans appreciate that. Combine that with his rare ability to reach across the isle and accomplish things, gives Americans hope. Palin is obviously helping McCain as well. Looks like all the hypocritical left wing trash talk on her backfired.
ParticipantAmericans are wising up and seeing the lack of substance and experience in Obama.
No one wants higher taxes, a president who has a record of not voting, and someone who isn’t capable of defending the country. The fact that he is a smooth talker means nothing to the average person.
McCain’s service to his country is second to none, I think Americans appreciate that. Combine that with his rare ability to reach across the isle and accomplish things, gives Americans hope. Palin is obviously helping McCain as well. Looks like all the hypocritical left wing trash talk on her backfired.
ParticipantAmericans are wising up and seeing the lack of substance and experience in Obama.
No one wants higher taxes, a president who has a record of not voting, and someone who isn’t capable of defending the country. The fact that he is a smooth talker means nothing to the average person.
McCain’s service to his country is second to none, I think Americans appreciate that. Combine that with his rare ability to reach across the isle and accomplish things, gives Americans hope. Palin is obviously helping McCain as well. Looks like all the hypocritical left wing trash talk on her backfired.
ParticipantThe day will probably be a big “up” day in general, as the greedy wall street cheerleaders who spent the past 6 months pouting/asking for this bailout have now got their way once again.
One thing I guarantee… Jim Cramer will be having a field day/he will be giddy to the point of annoyance, he will most likely declare the bear market is bottoming(as he has done numerous times already), and he will likely revise his ridiculous countdown to the housing bottom to an earlier date.
Long term, I think it only discredits the country’s economy, weakens the dollar, and creates more inflation. I don’t think it will impact the housing problems a whole lot.
ParticipantThe day will probably be a big “up” day in general, as the greedy wall street cheerleaders who spent the past 6 months pouting/asking for this bailout have now got their way once again.
One thing I guarantee… Jim Cramer will be having a field day/he will be giddy to the point of annoyance, he will most likely declare the bear market is bottoming(as he has done numerous times already), and he will likely revise his ridiculous countdown to the housing bottom to an earlier date.
Long term, I think it only discredits the country’s economy, weakens the dollar, and creates more inflation. I don’t think it will impact the housing problems a whole lot.
ParticipantThe day will probably be a big “up” day in general, as the greedy wall street cheerleaders who spent the past 6 months pouting/asking for this bailout have now got their way once again.
One thing I guarantee… Jim Cramer will be having a field day/he will be giddy to the point of annoyance, he will most likely declare the bear market is bottoming(as he has done numerous times already), and he will likely revise his ridiculous countdown to the housing bottom to an earlier date.
Long term, I think it only discredits the country’s economy, weakens the dollar, and creates more inflation. I don’t think it will impact the housing problems a whole lot.
ParticipantThe day will probably be a big “up” day in general, as the greedy wall street cheerleaders who spent the past 6 months pouting/asking for this bailout have now got their way once again.
One thing I guarantee… Jim Cramer will be having a field day/he will be giddy to the point of annoyance, he will most likely declare the bear market is bottoming(as he has done numerous times already), and he will likely revise his ridiculous countdown to the housing bottom to an earlier date.
Long term, I think it only discredits the country’s economy, weakens the dollar, and creates more inflation. I don’t think it will impact the housing problems a whole lot.
ParticipantThe day will probably be a big “up” day in general, as the greedy wall street cheerleaders who spent the past 6 months pouting/asking for this bailout have now got their way once again.
One thing I guarantee… Jim Cramer will be having a field day/he will be giddy to the point of annoyance, he will most likely declare the bear market is bottoming(as he has done numerous times already), and he will likely revise his ridiculous countdown to the housing bottom to an earlier date.
Long term, I think it only discredits the country’s economy, weakens the dollar, and creates more inflation. I don’t think it will impact the housing problems a whole lot.
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