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[necro] Another $15 in Bailouts for Fannie Mae

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Posted Feb 28, '10 at 4:22pm

Drace

Drace

3,980 posts

http://www.washingtonpost.com/wp-dyn/co … ws

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.

This is god dam ridiculous. The government is making school cuts, benefits, aid, etc because supposedly its bankrupt but can pull $15 billion out of its *** out of now where to bailout big corporations.

And how ridiculous is it that in the Haiti thread you see people saying that we were bankrupt and $100 million in aid was too much...

 

Posted Feb 28, '10 at 4:27pm

valkery

valkery

1,309 posts

Did the government acctualy say they were going to bail them out?

 

Posted Feb 28, '10 at 4:32pm

CB4

CB4

88 posts

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.

 

Posted Feb 28, '10 at 4:34pm

valkery

valkery

1,309 posts

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.

 

Posted Feb 28, '10 at 4:36pm

TexanProvo

TexanProvo

419 posts

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.

 

Posted Feb 28, '10 at 4:39pm

Drace

Drace

3,980 posts

Yes.

Late last year, the Obama administration pledged to cover unlimited losses through 2012 for Freddie and Fannie, lifting an earlier cap of $400 billion.

The government has already given them huge sums.
Why aren't there mass protests in the US against this bull**** like there is in England, Greece, France, Ireland, etc?

 

Posted Mar 2, '10 at 11:38am

yielee

yielee

596 posts

Guess they want to do it all over again just like the first time! :D (this is the first time: Corporate Welfare Fraud
)