Someone might say "This is all Bush's fault! Our economy sucks! We can't afford 4 more years of this!" Okay, Bush has warned that something like this would happen since 2001. He has urged Congress to pass a reform package for Fannie Mae and Freddie Mac because the size of these companies could create a financial crisis for America if they do indeed fall into some financial problems. But what did congress do? Nothing. Yes, let's blame Bush. He got me a bad grade on my test! He ate the last piece of pizza! Dogs can be happy, because now we can blame Bush for farting too. So what do we do? Now, we act. Congress is close to finalizing a Bailout Bill...wonderful timing boys. If you would've listened to Bush 7 years ago, we could have avoided this whole debacle. They are talking about a 700 Billion dollar buyout. Is it just another "Great" Government run program giving taxpayers money away? But what other solution is there? If you have an answer, please enlighten me with your knowledge. I love to learn. But this 700 Billion. Where did or will this money come from? Oh yeah, You and Me...So when someone blames Bush for the struggling economy... you know the facts, inform them as well. Good day.
Wednesday, September 24, 2008
Fannie Mae, Freddie Mac, The Economy, Oh My!
Subscribe to:
Post Comments (Atom)
1 comment:
Well put. Unfortunately there are no easy answers to this problem. I heard a great sound bite today from the Honorable Barney Frank from 2003. He was the chairman of one of the big committee's that oversaw SM and FM. He said then that the economy was good and not to worry because the government would not bail them out if things went bad. Guess he was wrong. I bet that $700 billion figure will be closer to $2 TRILLION than $700 billion. Keep the blog coming. You are doing America a great service.
Post a Comment