THOUGHT FOR THE DAY!

Truth needs no law to support it. Truth is self-evident to all. Truth withstands re-examination. Truth survives questions. Throughout history, from Galileo to Zundel, only lies and liars have resorted to the courts to enforce adherence to dogma." -- Michael Rivero

 

U.S. Rescue Seen at Hand for 2 Mortgage Giants

Senior officials from the Bush administration and the Federal Reserve on Friday called in top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, and told them that the government was preparing to place the two companies under federal control, officials and company executives briefed on the discussions said.

Webmaster's Commentary: 

Translation: The US Government will bail out these corporations and stick YOU with the bill!

Comments

this is huge. seriously,

bullbiscuits

this is huge. seriously, should we bail out a system that privatizes gain and socializes risk ??? i think it's time to stop paying federal income taxes.

It will be interesting to see

dragline190d

It will be interesting to see how China and Japan react when the new stocks are issued rendering the Trillions they now hold Worthless!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.