Comments on: Fannie and Freddie: Not Much Has Changed

By: Pajamas Media » Just Who Is Protecting Whom from the Pitchforks?

Pajamas Media » Just Who Is Protecting Whom from the Pitchforks? — Fri, 10 Apr 2009 15:47:33 +0000

[...] entities — helped to create this artificial boom, and government also caused the bust by way of serious mismanagement. Page 1 of 2 Next [...]

By: Jim

Jim — Sun, 05 Apr 2009 00:48:02 +0000

Also, the welfare rolls will surge – people will have no other option. If we took immigration reform seriously and could return the 12,000,000 illegal aliens to their countries of origin, we could provide many jobs (albeit, low-paying) to the unemployed. This may sound crazy, but today at the local Carl’s Jr., almost the entire lunch staff consisted of white adult male and females – no more Mexicans. In California, we’re already over 10% unemployment and people appear to be ready to take anything to bring in a few bucks.

I think ou’re right Rick. Tensions are going to rise and I wouldn’t be surprised to see rioting in certain areas. It’s been a long time since we’ve had Carter-like unemployment figures.

By: Jim

Jim — Sun, 05 Apr 2009 00:32:18 +0000

“My kingdon is not of this world”.

By: Rick Frueh

Rick Frueh — Sat, 04 Apr 2009 23:47:01 +0000

The entire economic narrative is a disgrace. Regardless of all the berbiage and posturing, the government has little care for the common man. Both houses of congress, both political parties, and the current administration have shown profound ineptitude accompanied by hollow promises and false projections. Here is another example of disregard for the Proletariat from the Bourgousie. The pain that many families will be experiencing in the next two years will be devastating. Look for violence to increase, workplace rampages, and more endless and mindless erudition from the lying lips of politicians.

By: Rick Frueh

Rick Frueh — Sat, 04 Apr 2009 23:09:03 +0000

And continues.

By: Rick Frueh

Rick Frueh — Sat, 04 Apr 2009 14:23:45 +0000

The nightmare continues.

By: John

John — Thu, 02 Apr 2009 14:28:30 +0000

Rick,

That’s also why we’ve been beating the drum on the Financial Stability Oversight Board. That was the body created by the EESA law which was supposed to be responsible for maintaining some level of sanity with the TARP money. But as we’ve found, they haven’t even met since the inauguration despite a legal requirement to do so. It really is a scandal or at least it will be as soon as someone in the MSM notices.

By: Morgen

Morgen — Thu, 02 Apr 2009 13:10:08 +0000

Rick, I could not agree more. However, I also think that Fannie Mae and Freddie Mac have mostly dropped off people’s radar with so much attention on all of the private industry bailout recipients. Individually they are set to receive far more in bailout funds than any other institution (including AIG). And unlike private banks which in theory could be cut off from the trough, taxpayers will ultimately be responsible for ALL of Fannie and Freddie’s losses. Which is why I am so troubled by the way they continue to be mismanaged by our government.

By: Rick Frueh

Rick Frueh — Thu, 02 Apr 2009 11:49:23 +0000

There will be much time for hindsight, what is most troubling and outrageous is that the bailout money was given minus these two elements:

1. No legal directions as to how these banks/companies were allowed to spend it.

2. No legal instructions that mandated open and continuous accounting for how the money was being spent.

Even a farmer with a 10th grade education would not loan money to his spendthrift son under those conditions. I do believe that resignations should be forthcoming. The politicians demanded Wagner resign because of his track record, so should those responsible for the bailout.

The pros and cons of the bailout concept or the amount of money given are debatable, the way in which it was given, a la Halloween candy, is felonious.