Fannie, Freddie, and Our Socialist Government

Yesterdays bailout puts us one step closer to socialism...

This bailout was not really required because Fannie & Freddie both had the required capital reserves. They lost around 17 billion... but WaMu lost 19 billion. Losing money is not a prerequisite for taking control over a company; if it were the government would've seized many more companies by now.

in the short term this will be good for mortgage interest rates and ultimately the housing market. In the long term this is going to wreak havoc on our financial system and economy as a whole. The FED is going to start printing money to cover losses and to make cash infusions, the value of our dollar once again is going to plummet, and investors are going to turn to oil again as a hedge against inflation. The cost of gasonline will soar and we will be in the same type of mess that we are in now except that it will be deeper and take longer to recover from.