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08-04-2008, 11:59 AM
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Senior Member
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Join Date: Sep 2006
2,260 posts, read 988,907 times
Reputation: 341
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Fannie Mae & Freddie Mac bailout, the truth
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08-04-2008, 12:03 PM
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Senior Member
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Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,160,343 times
Reputation: 1275
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Quote:
Originally Posted by paullySC
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You do realize that Democrats AND "Republicans" were equally guilty in the passing of this Leninist bill?
I applaud this non-RINO conservative and lament the McCain and Obama backing apologists as they provide their dodgy excuses as to why Fannie and Freddie need to be bailed out.
People use scare tactics like "we NEEEEEEEEED secondary markets for mortgages or else people will riot, resort to cannibalism and the world will come to an end" |
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08-04-2008, 12:04 PM
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Senior Member
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Join Date: Sep 2006
2,260 posts, read 988,907 times
Reputation: 341
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Quote:
Originally Posted by ViewFromThePeak
You do realize that Democrats AND "Republicans" were equally guilty in the passing of this Leninist bill?
I applaud this non-RINO conservative and lament the McCain and Obama backing apologists as they provide their dodgy excuses as to why Fannie and Freddie need to be bailed out.
People use scare tactics like "we NEEEEEEEEED secondary markets for mortgages or else people will riot, resort to cannibalism and the world will come to an end"
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Yes both parties are at fault. |
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08-04-2008, 12:09 PM
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Senior Member
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Join Date: Jul 2008
1,064 posts, read 445,043 times
Reputation: 306
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The US is a 2 party nation. NOT! More like one party to me. If ever there was a time for a new party with a plan, not smoke and mirrors, now is the time to lead.
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08-04-2008, 12:18 PM
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Senior Member
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Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,160,343 times
Reputation: 1275
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Quote:
Originally Posted by jmking
The US is a 2 party nation. NOT! More like one party to me. If ever there was a time for a new party with a plan, not smoke and mirrors, now is the time to lead.
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America is made up of the socialist Republicrat party with two colluding subparties, and a few dozen people in both houses who actually get it. |
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08-04-2008, 12:25 PM
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Senior Member
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Join Date: Dec 2007
Location: Albemarle, NC
7,580 posts, read 3,430,982 times
Reputation: 1141
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Quote:
Originally Posted by paullySC
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That's not all. House Financial Services Committee
Quote:
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The cost of the bill (except for the Fannie Mae/Freddie Mac provisions) is fully offset with a tax compliance provision from the President’s Budget (requiring credit card companies to report more information to the IRS about credit card transactions) and by delaying the effective date of a tax benefit for multinational companies that has not yet taken effect.
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How is the cost of this bill fully offset with a tax compliance provision? It forces credit card companies to report all transactions to the IRS. If you buy something on eBay, the IRS will know. They'll also know who you bought it from and what taxes they are liable for. Now isn't that a neat way to pay for this piece of crap legislation?
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08-04-2008, 12:40 PM
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Ak-sar-beN ~ another time and place ;-)
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Join Date: Dec 2006
Location: LEFT of the white house
9,231 posts, read 4,163,153 times
Reputation: 17992
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Quote:
Originally Posted by paullySC
Yes both parties are at fault.
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Your right I agree with you on this!
It comes down to baling out the corporations for the CEOs and wealthy investors. This is corporate welfare and nothing less. 
Some of the criminals involved with this mess need to go to jail. |
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08-04-2008, 03:02 PM
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Senior Member
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Join Date: Sep 2006
2,260 posts, read 988,907 times
Reputation: 341
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People need to get more involved with what congress is doing.
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