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I love Christmas lights. They remind me of the people who voted for Obama. They all hang together; half of them don't work, and the ones that do, aren't that bright.
For those who understand, no explanation is needed. For those who do
not understand, no explanation is possible.
A golf course is a willful and deliberate misuse of a perfectly good rifle range.
Yep, this one will cost at least as much as the savings and loan bailout. i'm betting that the fallout from all the varioussub-prime bailouts will cost US taxpayers at least a trillion dollars.
Oh I hate the cost, that's for sure, but what other options were there ?
I'm no economist, but even I have a clue about what would happen if FHLMC and FNMA went down
the tubes... Who wants to have to pay their entire mortgage with 1 check if all loans are called in ?
I think this may have a stabilizing influence on mortgage backed securities (lots'a 401k plans are participants in this roulette game), but for sure, MBS values would fall thru the floor in light of a FHLMC or FNMA failure.
How the market reacts to the takeover will be another question which remains to be seen....
FYI, they started as government programs and went semi private. I hope every share holder looses their investment today. I don't want someone retaining their stock while the tax payer bails them out.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Or, break up the companies, into smaller companies, thereby making it more diverse, and less dependant on two companies.
That would be kind of what Teddy Roosevelt did, anti-monopoly or anti-trust cases, it pretty much worked, but no, we've replaced true Progressive ideas with Socialist ideas, and that is really pathetic.
U.S. seizes Fannie and Freddie
