The Christmas Eve Taxpayer Massacre

Discussion in 'Politics' started by carpro, Jan 5, 2010.

  1. carpro

    carpro
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    http://online.wsj.com/article/SB10001424052748704152804574628350980043082.html?mod=djemEditorialPage

    The Biggest Losers
    Behind the Christmas Eve taxpayer massacre at Fannie and Freddie.

    Happy New Year, readers, but before we get on with the debates of 2010, there's still some ugly 2009 business to report: To wit, the Treasury's Christmas Eve taxpayer massacre lifting the $400 billion cap on potential losses for Fannie Mae and Freddie Mac as well as the limits on what the failed companies can borrow.

    The Treasury is hoping no one notices, and no wonder. Taxpayers are continuing to buy senior preferred stock in the two firms to cover their growing losses—a combined $111 billion so far. When Treasury first bailed them out in September 2008, Congress put a $200 billion limit ($100 billion each) on federal assistance. Last year, the Treasury raised the potential commitment to $400 billion. Now the limit on taxpayer exposure is, well, who knows?
     
  2. just-want-peace

    just-want-peace
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    There's going to be so much dirty laundry for this administration to conceal, I'll be surprised if we actually have the '10 elections. I fully expect some "catastrophe" to cause us to go under martial law before then.

    If we were able to get some truly honest folk in the house & senate, the justice dept would be overwhelmed by the criminal charges that would emanate from this group of sorry horses rear ends that constitute our present government.

    IMHO of course!!!!:thumbsup:

    MARANATHA!!!
     
  3. carpro

    carpro
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    The lunatics are running the asylum.
     
  4. billwald

    billwald
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    > Fan and Fred are now designed to lose money, transferring wealth from renters and homeowners to overextended borrowers.

    That is what our owners want you to think. The money passes through the borrowers and back to the lenders and on to Swiss banks. When borrowers finally default the houses go back to the lenders and on to the Swiss banks.

    Our owners want to keep the class warfare going between Rs and Ds, socialists and capitalists. It is the fascists who own us - international corporations. It sure is nice of them to let us rotate our tax collectors every 4 years.
     

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