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Bubby
Starlite Member
Username: Bubby
| | Posted on Tuesday, May 11, 2010 - 08:03 am: | 
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Following last weeks announcement that Freddie Mac lost $6.7 billion in the first quarter of 2010 and needed another $10.6 billion in bailout cash from taxpayers, Fannie Mae announced yesterday that it has lost $11.5 billion so far this year and needs a fresh $8.4 billion taxpayer bailout.
I know....it was Bush's fault.Liberals don't know how to accept blame for their actions or how to correct them.They don't teach that in college now days...
This program was designed to let people buy homes that couldn't afford to buy them or even make the housepayments....does that make sense?
One of Barnie Franks and Chris Dodds favorite
programs. I wonder how much money they have made off of it? |
Blind_poet
Starlite Member
Username: Blind_poet
| | Posted on Thursday, May 13, 2010 - 01:50 pm: |
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This program was designed to let people buy homes ..."that couldn't afford to buy them or even make the housepayments....does that make sense?"
....being in Canada I do try to keep up with news...but...this is one bit of legislation I never understood...could you explain it to me PBW? As to banks (or whatever they are) being bailed out...OUCH...my head is hurting Poppa...
"Hail to the ones who have gone beyond, praise for the days of their presence here, comfort to they who hold them dear."
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Bubby
Starlite Member
Username: Bubby
| | Posted on Thursday, May 13, 2010 - 03:25 pm: |
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Just look up Fannie Mae and Freddie Mac on google and they will tell you what its all about.Bush warned Barney Franks back in 2003 that this program was a disaster,but he pooh poohed it as a bunch on nonsense. |
