Now Fannie and Freddie need another trillion dollars. Stop already !!!!

FANNIE-FREDDIE Bailout Could Cost Taxpayers $1 Trillion...

Understand that Fannie and Freddie, the largest mortgage houses in the country, controlling 53% of all mortgages, is in deep trouble. In spite of the "needed" rescue, the latest financial reform bill does not address ANY of the problems at these institutions. Why? They are government controlled agencies. Last Christmas Eve, the Socialist Democrats passed a resolution giving Obama access to Fannie/Freddie funding WITHOUT HAVING TO REPORT TO CONGRESS. Did anyone notice that ACORN is no longer crying for money? Obama took money out of Fannie/Freddie (or somewhere), transfered it to ACORN Housing and all is well. How did GM pay off 6.5 billion dollars "5 years early" after GM lost 4 billion dollars in the previous quarter and made no profit for all of 2009? The money either came from the mortgage funding pool or from the TARP fund. We will never know since there is no accounting for these funding expenditures. And then, there is the matter of bonuses. The folks at Fannie and Freddie received millions of dollars in bonus from Obama --- the exact sort of thing Obama used to rail against the private sector. Crooks and liars, all.

The Minion Media has done an excellent job in diverting attention from the real causes of the current recession. In the beginning of the evolving mess, nearly two years ago, we were listening to truth. The recession was fueled by the "affordable housing" policies of the Federal Government and the silly notion that home ownership is a civil right of all Americans. Billions in high risk loans were offered AS PER THE MANDATE OF THE SOCIALIST DEMOCRATS, and this house of cards finally collapsed in late 2008. But no one in the Democrat controlled Congress has done anything to address the failed policies of this "affordable housing" program.

Unless and until the Feds get their house(s) in order, the American people should refuse to pay for any more bail outs. Everyone is screaming at Obama, from the Left as well as the Right. He is not listening and needs to be impeached or voted out of office. --- jds.

Post script: when we spoke of the media diverting attention away from the true causes of the recession? We had in mind FoxNews and Shepard Smith. Last week, during one of his evening broadcasts, he mentioned derivatives and hedge funds as causes for the recession. That is because he gets much of his perspective from Daily Kos (he quotes this Socialist rag often) and/or similar "news" outlets. The fact is that almost no economists we have read blame derivatives and hedge funds (which are derivatives -- maybe Smith doesn't know that, either) for the recession. Contributing influences most often mentioned by real economist include the recension of the Glass-Steagall Act; lending quotas for the working poor -- folks who could not afford these loans in the long term; a system of bonues and profit based on these high risk sales; the bundling of corrupt loans; a lack of confidence that induced "panic" selling; increasing bankruptcy rates ------ to name a few but NOT derivatives. In fact, it is safe to say that derivatives has NOTHING to do with the current crisis.
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