25 billion to Fannie and Freddie -More corporate welfare?

Question

I am not saying they don't need it-but why are neo-cons so hard on individuals in need???? Shouldn't they have to pull themselves up by their boot straps???

Answer 1

because once you get on your feet you wont funnel money to them........

sad...

Answer 2

My bond fund has invested heavily in those 2, if it costs 25 billion to keep them afloat, it's cool with me.

Answer 3

Absolute corporate welfare.  So much for "free market" adjustments and corrections.

Would "Mom & Pop General Store" get a government bailout if they went under?  No way.

This is disgusting.  They should be allowed to fail, and the CEOs and other bigwigs should be tried and put in jail for allowing this c**p to happen.

Answer 4

It is but it isnt. These are quasi-private government institutions. They suffer from the same inefficiency of all other bureaucratic institutions and are only encouraged into greater degrees of irresponsibility by massive government bailouts. Technically these entities are just two of the hundreds of Federal transfer programs for tax dollars. Interestingly powerful Democrat Senator Diane Feinstein agreed with Republicans on this one. Bailing out these institutions only assures them that no matter how shockingly foolish they run their companies, the taxpayers will be there to cover the loses. Now if we can only get her to apply that logic to other “welfare” programs.