Tekret:
Mr. Rithholz is exactly correct re Fannie and Freddie, or as he so aptly puts it -- Phony and Fraudy.
Members of the Senate/Congress et al have their hands in this (DEEP) and they are simply bailing out a fraudulent business. The whole conception of Fannie and Freddie is based on big government entitlement. So when has the government run anything successfully? So why do we want to put more into their hands like Healthcare, etc.!
I am NOT for redistribution of wealth. Period. There are plenty of socialist countries folks can move to if they believe that they need their every need supported by the government, including forfeiture of their liberties. I'm not one of them.
I'd better stop before this gets dumped into Political. My apologies in advance.
