- 6 Replies
Fannie Mae needs another $15.3 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned that its losses will continue this year.
Did the government acctualy say they were going to bail them out?
Governments don't bail out places for fun you know, if companies don't go out of buisness then they can't hire workers, the unemployed do not spend money and the economy digs itself even deeper. Investing money in the economy is not a bad thing.
I don't care if they are going to cut spending just so they can spend, I think they need to make sure that there is not some internal problem with the place they are bailing out.
It's just government waste, they should let them fail and let someone else take their place, but the government seems too sentimental. Either that or the politicians own stock in these companies, that would make sense. But don't worry, our loving Federal government knows exactly what to do with our money, I just can't wait until they go to Vegas and bet it all to pay off the national debt. What's sad is that would not surprise me.
Late last year, the Obama administration pledged to cover unlimited losses through 2012 for Freddie and Fannie, lifting an earlier cap of $400 billion.
Guess they want to do it all over again just like the first time! (this is the first time: Corporate Welfare Fraud
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