They definitely need to do something about fuel prices but if they allow Fannie and Freddie to fail the fuel price problem will seem like nothing. Every major lender and almost every small one is holding Fannie and Freddie paper and if they fail you will see bank failures on a scale not seen since the depression. The economy would be devastated on a scale no one who was not alive during the depression can imagine. Unfortunatly, leaving the people holding the bag AGAIN in order to save Fannie and Freddie is definitely the top priority right now. Just wait and see what happens to the markets if this is still in doubt when they open on Monday.I will use this thread for my rant..... Am I alone in thinking that the gov. is fixing the wrong problem here ?????? I really don't see how this lending issue is my problem..... What I do feel is my problem and everyone else's problem is the high fuel prices...... Why don't they get this fired up over that.....
They definitely need to do something about fuel prices but if they allow Fannie and Freddie to fail the fuel price problem will seem like nothing. Every major lender and almost every small one is holding Fannie and Freddie paper and if they fail you will see bank failures on a scale not seen since the depression. The economy would be devastated on a scale no one who was not alive during the depression can imagine. Unfortunatly, leaving the people holding the bag AGAIN in order to save Fannie and Freddie is definitely the top priority right now. Just wait and see what happens to the markets if this is still in doubt when they open on Monday.
Time to join your local militia ... it's not going to get any better. People will be trying to tear down your doors to get what you have with you standing there in your own house. Are you ready?
Time to join your local militia ... it's not going to get any better. People will be trying to tear down your doors to get what you have with you standing there in your own house. Are you ready?
Not really, this problem has been brewing for years. McCain co-sponsored a bill 3 years ago that could have headed this off but the democrats blocked it. Bush was warned about it as soon as he took office but his attempts to reform the oversight were blocked by the democrats too.I agree that yes we do need to fix Fannie And Freddie.... But I really think this whole problem started as soon as the gas prices started going up..... I think these folks that are overextended on their mortgages could probably be OK if that didn't have to put that little extra money in their tank, groceries,goods etc...
This is a real serious and scary situation !!!!!
No, he was paid by them when he was the head of the Homeownership Alliance, which was a lobbyist group. The NYT, who never reported on Obama's connections until now of course, is trying to paint this as a connection to McCain just in case he ran for President again. Well, it obviously didn't work since McCain led the charge to reform Fannie and Freddie. The NYT also makes excuses for Obama's ties to Franklin Raines and Jim Johnson, who were in control of Fannie, Freddie, and/or Lehman while all of the cooking of books was happening. They walked away with tens of millions (90 million over three years for Raines) and left us holding the bag.John McCain's chief financial advisor, if I'm correct, has been paid $15,000 per month by Freddie Mac or Fannie May for years now. Check out Sara Palin's interview with Katie Couric. She was asked to give specific examples of McCains leadership and responded " I'll get them to you". WHAT?????????????? I think this bailout is simply for the crooks on wall street and in Washington to get their money now and when the bailout fails, as planned, they can convert the US dollar to the Amero and they will still be rich.This country has been in Hell and now it's really starting to burn!!!!!!!!!!!!
Yep!
Bring it on sucka's.
There has always been a particular life lesson I hold close. My Grandfather (greatest and bravest man I ever knew) and the Boy Scouts have taught me BE PREPARED.
Let's see, 2 AKMs, several other rifles and pistols, a shotgun, thousands of rounds of ammo, night vision, body armor, a reserve supply of food and water, generator, plenty of seeds for the garden, radios, lights, I think I am ready.Well it's true.
I like the Boy Scout saying "Be Prepared!" While people are crying "Why is my house on fire and everything been stolen?" "Where is the law.. why aren't they here helping me?" I'll be standing there with gun in hand protecting what's mine. Most folks want live long enough to see it happen but I'm 38 yrs old so I just might have to endure it.