Story Created:
Jul 23, 2008
Story Updated:
Jul 23, 2008
Congressmen Paul Ryan and Jeb Hensarling sound a warning about the Freddie Mac/Fannie Mase bailout:
Congress is now being asked to further expand this taxpayer unfriendly bill to include a breath-taking bailout of Fannie and Freddie. This bailout could put taxpayers on the hook for as much as $5 trillion dollars worth of risk – that’s larger than the economy of every single country in the world except the U.S. or China. That’s enough money to buy 10 gallons of gas a week at today’s rates for every passenger car in the U.S. for more than the next 17 years. In the worst case scenario of these companies completely failing, though unlikely, taxpayers would see the $9.5 trillion national debt explode with the snap of a finger.
Sunday, Jul 27 at 1:43 PM Steverino wrote ...
We MUST bail out Freddie and Fannie! No money for mortgage-payers! All money for mortgage-holders! If we do not bail out Freddie and Fannie, Rich bankers and their friends may not be able to afford that 4th beach house! You oughta know too, that there are new internet spying provisions to help drive small business under, in the housing bill. We need that spying on internet businesses and their customers to collect more taxes, er I mean fight terrorism!
Thursday, Jul 24 at 9:41 AM Kurt/Elkhorn wrote ...
Never let it be said that a liberal congress can be outspent. So much for balancing the budget. I wonder if Pelosi & Reid are "ready to govern" yet. Sure aren't governing(limiting) spending, are they!!
Thursday, Jul 24 at 12:59 AM Peter THEB wrote ...
Keep in mind that all the while Freddie Mac and Fannie Mae were putting themselves into a position to require a taxpayer bailout, they were donating $250,000 to the King of All Shakedown Artists, The Reverend Jackson.
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