Let Fannie and Freddie Fail?

Who do you trust?

Out of the question, but those of us that remember WWII days were happy that we did not owe our future to Japan, China, Saudi Arabia or anybody else.

We remember that Americans financed that war with War bonds, Savings bonds, Victory bonds.

We didn't emerge from that one owing anybody but ourselves!

Even school children bought savings stamps and glued them into the stamp books until filled and then they were converted into $18.75 bonds that paid $25 at maturity.

Parents bought higher denomination bonds when they could afford to and Americans owned their own government.

Jimmy Carter urged a program of energy bonds patterned after the above in his July 15, 1978 televised speech (google it) as a way for Americans to help finance our way out of today's addiction to oil.

Common sense ideas do not stand a chance against big money interests.

HillbillyBill of TN @ Sep 11, 2008 08:14:16 AM

Democratic Congress to the Rescue?

Unfortunately a Democratic Congress and a Republican President signed this free money backed by the American taxpayers bailout to the tune of 5 trillion. Fannie and Freddie were only 50% of the secondary market, let the other 50% of the market decide what to do, not the government. Republicans use to be for less government fortunately McCain wants to make sure that [the two companies] are permanently restructured and downsized and no longer use taxpayer backing to serve lobbyists, management, boards and shareholders.

To have given the government a free hand to tax payer funds is a crime, there should be a Senate investigation on this stupidity! Unfortunately the idiots are running the asylum!

Simon Sez of CA @ Sep 10, 2008 21:58:40 PM