Contact Your Senator: Say No To Fannie Bailout

[harry123]

I saw this post and I have to agree. No bailout! No.

http://globaleconomicanalysis.blogspot.com/2008/07/contact-your-senator-say-no-to-fannie.html

Hats off Shelby and Bunning. The latter is threatening to Filibuster Paulson's proposed bailout of Fannie Mae and Freddie Mac. See Paulson Crosses Rubicon Lands In 5th Dimension for Paulson's absurd proposal asking Congress for "authority to buy unlimited stakes in and lend to the companies, aiming to stem a collapse in confidence".

Earlier today Senators Bunning and Shelby Blasted Bernanke on Monetary Policy.

Bunning sure has the Fed nailed with this statement: "Now the Fed wants to be the systemic risk regulator. But the Fed is the systemic risk. I am not going to go along with that and will use all my powers as a Senator to stop any new powers going to the Fed."

[Warpy]

1. Right, destroy the institution that made the 30 year mortgage available.

Yeah, that'll teach those peasants a good lesson! Peasants were never meant to afford their own homes! Destroy those mortgage holding companies and make sure no peasant will ever own anything again!

Christ.

[Common Sense Party]

3. Destroy the institution that has about 5 TRILLION dollars worth

of home mortgages. That won't have any effect on the overall economy. In fact, maybe that will accelerate a recovery.


:sarcasm:

[sendero]

4. Sure privatize profits..

.. and socialize risk.

Something has to be done, but it does NOT have to be anything like the taxpayers paying for the mistakes, fraud and stupidity of those running the FNM and FRE.

[truedelphi]

5. Sendero, I would agree with you but then I read the secret report on the government

Enron-izing every aspect of the financial markets.

You and I can cleverly NOT WANT it to happen, but it will happen regardless.

[sinkingfeeling]

2. I don't take advice from either of those Repukes.

[truedelphi]

6. If you read the link you will see that even

Senator Dodd thinks it a bad idea to offer any financial institution a federally approved privatization, with federal monies propping it up, and with NO CHECKS and/or balances or oversight over the affair.

Think about it.