Twitter   RSS   Email  
 
Home
Admin

 How the Global Economy is Dependent on Christianity


 Why America May Never Recover From the Recession


 Save Money Homeschooling


Who Passed the Laws Supporting Freddie Mac and Fannie Mae?

By: Steve Johnson

9/17/2008 - 46 Comments

If you consider the magnitude of the failure of the government supported enterprises of Freddie Mac and Fannie Mae and government bailout of these institutions on the economy, you have to wonder who allowed this to happen.

Who are the politicians that signed the bills into law to give these institutions the power they had to provide the easy money they used to buy up no-money down mortgages and then repackage them to sell them to Wall Street? 

I would like to see a list of names of the politicians who thought this was a good idea.  This disaster has led to the biggest bailout ever. If 10% of the $5 trillion of mortgages needed to be made good by the government, then it will cost the government $500 billion.  That is the size of the annual US defense budget.

To make matters worse, the saviors’ in congress that helped keep these giant failures in place, are now running for reelection on the merits of their efforts to institute the bailouts and save the economy.  What the economy needs it a saviour from them!

Forget the bank CEO’s, forget Wall Street, forget the poor people that bought homes with no-money down – this is a failure of the government to plan the economy.  The politicians that supported Freddie Mac and Fannie Mae should be tarred and feathered.

Follow up article: I Found Part of the Answer to My Question About Freddie Mac and Fannie Mae

Copyright © 2018 PennyJobs.com. All rights reserved.

U.S. Manufacturing: The Engine for Growth in a Global Economy

This volume provides a comprehensive analysis of the essential role of the manufacturing sector of the US economy. The increase in the relative importance of the service sector and the globalization of manufacturing has tended to dull the image of US manufacturing....This volume contains much useful data that has been condensed into tables and charts to provide support to the reader without interrupting the flow of the text.

The Speculation Economy

American businesses today are obsessed with the price of their stock, and no wonder. The consequences of even a modest decrease can be so dire that some executives would rather damage their corporation's long-term health than allow quarterly returns to fall below projections. But how did this situation come about? When did the stock market become the driver of the American economy? Lawrence E. Mitchell identifies the moment in American history when finance triumphed over industry.

America Alone

In this, his first major book, Mark Steyn--probably the most widely read, and wittiest, columnist in the English-speaking world--takes on the great poison of the twenty-first century: the anti-Americanism that fuels both Old Europe and radical Islam. America, Steyn argues, will have to stand alone. The world will be divided between America and the rest; and for our sake America had better win.

Crash Proof

Peter Schiff has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch to the stock market. Peter has a plan to help you servive the crash. Peter explains why the Wall Street investment firms are still trying to sell you stocks, and was the house prices are likely to continue to decline for years to come.