Tinkerbell

Cap152,

You'll see it's a good thing when you realize you won't experience any of the losses and economic collapse that would have undoubtedly occured. If life goes on as usual, it means it worked. The banks will get the credit flowing and life will keep going on. The market will stabilize and our pensions and hard earned money will continue to grow. Congress will keep a close eye so that this situation never happens again and hopefully all of us will learn a darn hard lesson--extravagant spending will have to go out of style.

Congratulations on the difficult decision taken and thank you for having the courage to do what was necessary for the collective good!

BigFellor

You missed something. This is NOT a democracy

milky

This is only good if you want a socialized market. Since we tend to pride ourselves in the US for not having planned central markets because they always fail miserably, this is a bad day for us.

There were plenty of ways to offer incentives for the market to fix itself here, but instead we let the government take away our economic freedoms in the name of a 'crisis.' We will pay for this mistake for years to come. In the short term, we will pay by having housing prices stay artificially high. We will pay by having our government grown to cover the huge amount of money that was just promised. Whether that money comes from tax or debt, it is a drag on our economy.

Have to give it to the growers of government. They did a good job of convincing everybody that pays about 1/4 attention that they need this, no WANT THIS, to be passed. While all the economists are warning of the horrible effects this would have on the economy, the media can only find politicians to talk to about whose fault it was. Well, at least we are sheep and follow happily along as long as they tell us it's what is best for us.

ryan1234

This bill is a great example of rash behavior and brainwashing.


To everyone who is asking for more oversight as a fix to what has happened in the past....... did it ever occur to you all to ask who exactly is doing the "oversight"?

HoursHore

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank’s relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie. …

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses “helped develop many of Fannie Mae’s affordable housing and home improvement lending programs.”

Critics say such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector.

FOXNews.com - Lawmaker Accused of Fannie Mae Conflict of Interest - Politics | Republican Party | Democratic Party | Political Spectrum

DYNASTY HVY

Yeah about 120 billion more differences !

DYNASTY HVY

Its a Republic !

atpwannabe

I wonder why the U.S. didn't go to the World Bank or the International Monetary Fund (IMF). This country has the highest number of subscriptions (voting percentage) or SDR's (special drawing rights) in both organizations.


atp