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U.S. to Take Control of Fannie and Freddie!

reuters.com — The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history. Atlas Shrugged, here we come.

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  • citizenbfk, on 09/06/2008, -0/+1This is like a bank robbery: Wall St. & Congress have conspired in the largest stealing of tax dollars in US History. This equals all the other failures of Bush.

    Five years messing over Iraq -- who had nothing to do with 9/11 or WMD's -- has yet to cost a trillion dollars. This takeover takes on liability for SIX trillion dollars, buys all this bad debt mortgage loans to save banker's butts and passes on that debt to tax payers.

    This should be no surprise. It's like FEMA in New Orleans. It's like starting a war for false reasons. It's like letting bin Laden run around live and free. It's like running out of money to build and repair roads and bridges.
    It's like joblessness hitting the highest levels in five years.

    It's our country going down the tubes, whether for Wall St. bankers, Oil companies, or the interests of Israel.

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