Bailout links others have posted, but which belong in one place
Posted by Lise on 26 Sep 2008 at 09:30 am | Tagged as: economics
If the lenders are blameless in this economic situation, and it’s really all caused by those math-impaired cretins who borrowed the money, then why are Fannie Mae, Freddie Mac, AIG, and Lehman Brothers being investigated for fraud?
One quote: In June, [the FBI's] Mortgage Fraud Task Force arrested more than 400 mortgage brokers, lenders, appraisers and other industry insiders who, it said, were responsible for more than $1 billion in losses.
I’m still trying to decide my opinion on the $700 billion bailout plan. While it’s being presented as taxpayer-focused, the recent writings of a certain Mr. Fengi are making me realize that the $700 billion number is a nice round number pulled out of someone’s ass, and that all this bailout will do is allow lenders to go back to their previous predatory behavior, hoarding profits and passing expenses on to taxpayers.
And lest you think the Candidate You Support will do something to stop this, keep in mind that both Democrats and Republicans know who their corporate masters are.
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[...] also talked a lot in the past couple of weeks about the $700 billion bailout of Wall Street, and why I was against it. With the Senate backing the bill, the outcome is looking more and more certain, but the bill still [...]