Help me understand this....... - Democratic Underground

OwnedByFerrets

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Mon Sep-08-08 06:33 PM
Original message

Help me understand this.......

What keeps the Fannie/Freddie thing from being a pure bailout? It's still a private company is it not? Will it still have a CEO that gets paid 13 million dollars running it into the ground? Whats in it for the average taxpayer?? Why not go all the way and NATIONALIZE them both? I'm sick to death of bailing out badly run companies while the rich get richer.
What do I need to understand that I'm not understanding?:mad:

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...of J.Temperance

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Mon Sep-08-08 06:36 PM
Response to Original message

1. You'd think that the GOP would be against bailing out Fannie Mae and Freddie Mac

Them being *chuckles* "Fiscal Conservatives" and all....Lol!

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jimshoes

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Mon Sep-08-08 06:39 PM
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2. Since the taxpayers will foot the bill you'd think

that even the brick stupid pugs would be against it, seeing as they pay taxes too.

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panader0

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Mon Sep-08-08 06:39 PM
Response to Original message

3. As of now, there is no such thing as a bankruptcy.

Go broke if you want, outspend yourself, live beyond your means, no sweat, you'll never have to pay it back or be responsible. Weren't the airlines bailed out too? Just like justice in this country, if you've got enough dough, you are innocent. If you are poor, you are guilty, if you are poor, you are out in the street. I call bullshit. If I don't pay my bills, do you think the government is going to step in and save my ass?

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Sal Minella

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Mon Sep-08-08 06:40 PM
Response to Original message

4. The profits have been pirated away; now they socialize the losses.

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onethatcares

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Mon Sep-08-08 06:42 PM
Response to Reply #4

6. exactly, and what did the parachutes look like?

did the ceos get to walk away with "no problem" severance packages? Is that info available anywhere?

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Sal Minella

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Mon Sep-08-08 10:01 PM
Response to Reply #6

7. I've thought about this a lot, but try not to, because that way lies madness.

Miss MooseMeat was apparently telling people just recently (sorry, no link) that the problem with Fannie and Freddy was "they just got too big for the taxpayers to support any more."

I know more than that about Fannie and Freddie, and I'm not even running for dogcatcher.

Now that F & F have failed, but are "too big to fail" -- the taxpayers are expected to clean up the mess, but MMM is telling it exactly backwards!!!

The truth is just not in these people.

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Tangerine LaBamba

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Mon Sep-08-08 06:41 PM
Response to Original message

5. What happened to the Republican mantra

about keeping BIG GOVERNMENT out of our affairs?

Freddie and Fannie are hybrids, run as private corporations, but backed by the Feds, should anything go really wrong.

I daresay no one foresaw anything going THIS wrong.

Just like the debacle in Iraq, we, the taxpayers will foot this bill.

It's Enron all over again.

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