Because if so, this is the biggest fucking bull shit robbery of our lifetimes.



http://money.cnn.com/2011/11/15/news/co ... ?hpt=hp_t2

So let me get this straight:

Fannie and Freddie (government sponsored, low interest high risk mortgage lenders) offered mortgages to people with poor credit. Those people defaulted on their loans, and Fannie and Freddie repossessed their homes. Then, the government took our tax dollars and gave them to Fannie and Freddie, who then paid their top execs (who ran these lenders into the ground) multi-million dollar bonuses.

So in essence, these execs are getting paid our tax dollars as bonuses for repossessing our homes and crashing the housing market.

Anyone who was in favor of the bailouts should be fucking impeached.

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Wheelhouse

Your understanding is correct.

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NY is right......it's better to try and think happy thoughts

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Oh Hai Guiz....

One thing to point out is Freddy and Fanny are required by various laws to give the loans they do.
File your complaints with Mr. Frank.

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Hold my beer and watch this...

IMO, it's a little late to be pissed about this...

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I can honestly say that I was entirely against the bailouts. I was on vacation in Germany at the time, but stayed up in the wee hours to watch the only English tv channel in order to stay up on the news. We heard all about these doomsday stories, about how the economy is going to collapse without a bailout. I called "BS" then, and I call "BS" now. It wouldn't have been pretty, but the economy would rebound, but without billions (trillions?) in golden parachute money going out the window or down a toilet. If businesses are allowed, or left, to sink or swim the economy is a self-correcting process sans gov't intervention.