Why is there not more public outrage regarding the bail out of Freddie Mac and Fannie Mae?

Question

If a locally owned business fails, such as a small market or grocery store, that's it. Shut the doors, file bankruptcy, business owners lose everything sometimes. But now, it seems the rules have changed. Fat cat investors are protected now, from really losing their massive piles of wealth, because of government bailouts. It isn't even a question of fairness. Dear, sweet, ice-skating Baby Jesus!!!! Is our country degrading to this point, really? Remember what George Bush said right after 9/11? "don't quit spending money". It seems we live in the United States of Apathy.

Answer 1

Fannie Mae and Freddie Mac are government sponsored enterprises, so its kind of different than those private small, local businesses. Also, Fannie and Freddie own, back or guanantee almost half of the U.S. morgage sector. If one of them goes down, then 1/4 of the morgage market could go with it. It can and probably will have a negative impact on its counter part. Sure, the investors will reep good benefits, but so will the U.S. economy and the people.

I do think the people running these 2 companies should do a better job in making sure that they dont need a bail out again (like make better and smarter decisions etc...)

Answer 2

because fannie and freddie is mostly retired Washington fat cats who now work there enjoying the easy money and power they have in Washington

so the little man can scream all he wants it won't do no good  welcome to rome my friend

Answer 3

If Freddie Mac and Fannie Mae go out of business then the whole systems fails. Like it or not, letting these companies fail is not an option.

However, I am outraged that no one is being held accountable.  

Answer 4

I guess we've become so inured to subsidizing irresponsible behavior, both private and corporate--and governmental for that matter.  This isn't just about the "fatcats" though.  There's responsibility down to the very lowest economic levels on this debacle.  

BTW:  if you're making a list you should add farm subsidies.  That's a real crock of ****.