WTF With Fannie Mae!?

It was reported that: The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) 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. The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt.

This 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/Cheeney and their cohorts.(

In comparison, five (5) years messing over Iraq -- (who had nothing to do with 9/11 or WMD's) -- has yet to cost a trillion dollars, while this government bailout takes on liability for SIX trillion dollars,,,

... buying all these bad debt mortgage loans to save banker's butts and passing on that debt to tax payers. Uncle Sam has walked away and left two crying babies on the average citizen taxpayer: John Q. You.

To make it worse, it because Big Time Worse yesterday when the Wall Street Stock Market dropped over 500-points in one day; it's biggest one day drop since 9/11.

Why? Because another big bank is going out of business. First Bear Sterns. Then Freddie Mac & Fannie Mae. Now, yesterday (Black Monday) the insurance giant AIG (American International Group, more info here.

These big banks and our economy are falling down like dominoes -- and our economy is going down with them.


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 alive and free.

The cause is clear: it's the Bush White House and his administration of corrupt, lying incompetents: Failure with FEMA; Failure in Iraq; Failure with killing or capturing 9/11 criminal bin Laden; Failure with the Dept. of Justice and our Constitution; and now, Failure with the economy.

We've run out of money to build and repair roads and bridges. Joblessness has reached the highest levels in five years.(Another piece of bad news is Hewlett-Packard Co.announcing 24,600 layoffs; these bank failures will cost tens of thousands of jobs).

Inflation is hitting everything from basic groceries like beans, milk and bread, to high gas prices.And our ideals and principles aren't doing too well, either.

BushNation is going down the tubes!

Yesterday was a ManicMonday.

One of our biggest banks, Lehman Brothers, went out of business. Meryl Lynch was sold cheap to Bank of America.

We're not exactly to the drastic state of eating our children, but we're certainly sending our grandchildren into debtors prison and the upcoming holiday of Christmas may have to be cancelled.