Jeremy lassen (jlassen) wrote,
Jeremy lassen

It's official. US Government nationalizes two largest home mortgage companies

The U.S. Treasury expects to purchase $5 billion of Fannie Mae and Freddie Mac mortgage-backed securities within the next month as part of its takeover of the mortgage finance giants.

Senior government officials told reporters in a news briefing the program would be the first taxpayer cash outlays associated with the plan to put Fannie Mae and Freddie Mac into a government conservatorship.

Of course, they won't use the term "nationalize" that generally thats what it is called when the government buys out a company or private industry, and starts running it.

I guess all you free market conservatives must be really upset about his, and are bombarding the Senate and house that this type of government interference in the markets is not to be stood for?

whats that? Your not? All the "free market conservatives" are actually very relieved that they won't have to suffer at the hands of the "free market" and that they are overjoyed to have the finanical industry receive 5billion in corporate welfare, to cover for the bad bets that they made?

Whats that? Fuck tards like Alan Greenspan are saying that these two institutions can't be allowed to fail because they are too big and too important to the economy?

If they are so big and so fucking important, perhaps they should have been subjected to regulation and federal oversight. Fuck these ass monkesy. Once again, Big Finance gambles and runs a ponzi pyrmid scheme, for which we the american tax payers are left holding the bag.

Biggest bank bail out since the S&L scandal, and one of the key miscreants in the S&L scandle is running for president and his economic advisor is the one who set the stage for the current failure, and ITS NOT BEING TALKED ABOUT EVERY NIGHT ON TV?!?! liberal media my ass.
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