Bush Angling to Help Fannie and Freddie
President Bush is still insisting that the U.S. economy is in generally good shape, even as he asks Congress to support legislation to help Fannie Mae and Freddie Mac, while insisting in the same breath that he's not proposing a "bailout" for the ailing mortgage companies. Hmmm.
President Bush is still insisting that the U.S. economy is in generally good shape, even as he asks Congress to support legislation to help Fannie Mae and Freddie Mac, while insisting in the same breath that he’s not proposing a “bailout” for the ailing mortgage companies. Hmmm.
Rock Solid JournalismAP via Breitbart.com:
President Bush urged lawmakers on Tuesday to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the nation’s financial system to be “basically sound.”
Bush said the two troubled mortgage companies play a central role in the nation’s housing-finance system and that government action to help them were not bailouts, since the two would remain shareholder-owned companies.
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Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
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