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THOUGHT FOR THE DAY!

"I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good...and it would spread a lively terror.... "-- Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

 

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!

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