Rome Burns & Washington Looks For the Bogeyman

Posted on October 2nd, 2008 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research

Yes Washington, hedgefunds did cause this. Fannie Mae and Freddie Mac, the largest hedgefunds of all time. This is disgusting.  What a waste of time…they are hell-bent are taking all liquidity out of the markets.  -Best, Mr Mortgage

15 Responses to “Rome Burns & Washington Looks For the Bogeyman”

  1. Hey Mark,

    Waxman & Co had some of the boogeymen (Mozilo, Prince & O’neil) in the Rayburn Building and NOTHING was done. These crooks have destroyed trillions in pension, mutual and insurance funds so they could make a few billion. In addition, they have jeopardized our nation’s security by deceiving foreign investors.

    This is outrageous!

    The FBI has been investigating CFC and most likely the others are part of the undisclosed and still pending investigations.

    Did I say OUTRAGEOUS!

    It was highly foreseeable, preventable and criminal.

    Kingpin-Heads should roll

  2. Sadly they won’t. These people own our government.

  3. BTW,

    This bailout will pass this weekend. And the Americans will go about their normal debt ridden, over inflated lifestyles. The concept of retirement will soon be nothing more than a pipe dream for most Americans.

  4. Gotta love the govt. It’s what they do. And they do it so well. Comically reliable. Now, how to profit from it? That’s the real question.

  5. Wait until the US consumers are down to just consuming food and fuel. Anyone have a plan to force spending?

  6. The already are there. The plan is to get them to take out loans again, and putting them further into debt.

  7. od, you can’t take out loans if you don’t have a job or the resources to pay it back. That is the problem with this bill. It cannot make or force people to buy cars and houses and other things…
    They will have to have the money for that.

    These lenders want the money to hoard it and keep their gravy train going. They want there bonuses to continue and their stocks to rise so they can sell, sell, sell!!! These people wan to suck dry each and every possible penny that the middle and lower class have left and then they will use all of their ill found gains to buy everything up and make us truly a debtor nation unto them.

    A perfect plan and 700 Billion will help get that ball rolling along nicely.

    Don’t forget they already have Fannie and Freddie to rape and pillage from at the “Tax Payers” expense and that has already started. This is in addition to that debacle. They already have AIG on the ropes seeing as how they have drawn down over 75% of their loan in just a few weeks. I recall our Government telling us “Tax Payers” that AIG probably wouldn’t even use this amount over the 2 years they have to pay it back. They will have spent it all in 2 months and we will then owe 85% of an insurance company… whoopee!!!

    We will also lose 100’s of billions in bank closings and now that we will have FDIC insurance up to 250K we will owe yet that much more…

    The “Tax Payers” are screwed if this passes each and every last one of us! Japan had a lost decade, but savings… We could have a lost century!!!

  8. I need some clarification:
    Wall street and the banking system basically thru greed crash the nations financial system, (a broad look) and now holds that same nation hostage because they won’t lend, and now this nation is going to hand them 700b (if not more.) WTF?

    Am I off on this?

    I am listening to the politicians spin this as it will help the tax payers- are they crazy?

  9. Stu, I know we are screwed. So what? Do you really think fat,ignorant,drug-popping,broke Americans are going to get up and protest, or (even more unlikely), start a revolution? Clearly the banks run this world.

    Don’t underestimate how much pain and suffering the populace will take before demanding change. I just don’t think Americans have the stomach to do anything about it.

  10. Where are those Ron Paul Revolutionaries when we need them?

  11. as already suggested, the whole thing is window dressing, a charade

    with that said, to distinguish between Fannie, Freddie and the hedge fund world is rather odd, sort of like nabbing two of the three bank robbers, but letting the driver of the getaway car off, they were all in it together

  12. We are in the eye of the storm right now and it just went from a Cat 3 to a Cat 5.

  13. od, we are screwed because this will do nothing for Main street and simply “Bailed Out” wall street. We are screwed because this is not going to do one damn thing but to add am enormous debt on our ability to move forward. Our best bet would have been to let 2,000 + banks fail thereby strengthening the 6,000 + that would be left. Let half of these chain stores and chain restaurants close and strengthen the ones that are left. This coupled with a jobs program would have had us coming out of this in 3 or 4 years a stronger nation. All this did was further collapse the economy at the “Tax Payers” expense and reduce our ability to climb out of the hole because it just got dug that much deeper on us. That and the reccesion is here and this will not even slow it down enough to notice. In fact if you blinked you probably missed how much this “Bail Out” accomplished…

    That may be enough to stir some unrest come November… Maybe???


  14. The United States is entering a depression that will likely spread around the globe.

    States and municipalities across the country are canceling construction projects because they can’t sell their bonds for “reasonable” interest rates.

    Who does Paulson/Bush think are going to buy $700 Billion worth of U.S. paper? What interest rate are they offering, 25% per annum?

    Next year when another $1 or $2 Trillion dollars of loans are underwater who is going to buy our bonds to fund that bailout?

    It’s over Johnny.

  15. Stu,

    Yeah, it’s a pretty stupid deal. But what action by the gov’t isn’t? Don’t think for one second it was done out of ignorance. These special interests and congressmen know EXACTLY what they are doing.

    I don’t think it’s the end of the world. But it is the end of progress and growth for a while. (Which I don’t mind) Americans are going to have to learn to save, and only buy what they can afford. (Which isn’t a bad thing.)

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