US Bails Out Fannie Mae & Freddie Mac-1/2

US Bails Out Fannie Mae & Freddie Mac

The US government has seized control of the mortgage finance companies Fannie Mae and Freddie Mac in what could become the largest corporate bailout ever. The Treasury Department has pledged to provide as much as $200 billion as the two quasi-public companies deal with heavy losses on mortgage defaults. We speak with economist and writer, Max Fraad Wolff. [includes rush transcript]

Category:

News & Politics

Tags:

• fannie
• mae
• freddie
• mac
• banks
• finance
• capital
• democracy
• now

[agitcam]

Isn't it hilarious that every time these ignorant greedy capitalists cause an economic catastrophe they have to use socialism to save them. They are hypocrites of enormous proportions. And in the end this isn't going to solve the problem or stop the decline into a depression. What they have wraugt will make the Great Depression look like a picnic. Just stay sleeping on your couch John Q. Public while your home disappears around you.

[ubuibiok]

Enough...Fannie Mae and Freddie Mac bailout. We get the bill and the Corporate leaders get there profits ....they keep there stock and pay checks. They should have been allowed to fail. The unaffected mortgages would go to sound banks and the foreclosures would stop thus giving those homeowners a good chance to refinance.

The Government bailed out the fat cats at our expense.

[azrial4421]

My business is failing, part of my income has bailed out car companies and banks let alone all the other BS. So I ask where is my bailout?? Real Americans feel free to buy fertilizer and grow your own redemption.

[WhiteFlowerLei76]

Its disgusting how this country operates, failed companies get bailed out but the working poor end up screwed over, working themselves to death, committing crimes of desperation, committing suicide, and going crazy because they cant pay their bills. American Leaders are so full of crap, I hope people like Bush, Cheney and all the scumbags in this country rot in hell.