Freddie Mac and Fannie Mae Bailed out?

@sumpter (214)
United States
September 7, 2008 12:27am CST
News broke today that the federal government might bail out investment giants Freddie Mac and Fannie Mae. This would all be at the expense of the American taxpayer and it would not be cheap. What do you all think about this. Refer to the piece below for some reference. http://news.yahoo.com/s/ap/20080907/ap_on_bi_ge/mortgage_giants_crisis
1 response
@ZephyrSun (7385)
• United States
7 Sep 08
Over the summer I have read a lot about the banking industry. I was surprised to read not in the article another one that the government of Russia is buying up a lot of the failed mortages. Scary thought. I just wonder how much this will impact the economy in the next several months. I know that some areas of this country are doing well and the people in those areas fail to realize that it isn't great all over. The rust belt states are suffering considerably and maybe when it spreads to the rest of the nation, we won't be considered a "nation of whiners". Sorry if you are on the Republican side but, you did ask what we think.
@sumpter (214)
• United States
8 Sep 08
No I am not on the Republican side so I understand where you are coming from. This is a big sign that things are not going good. One of the pillars of our financial system is crumbling before our eyes.
1 person likes this
@ZephyrSun (7385)
• United States
8 Sep 08
Thank goodness I really had hoped I hadn't insulted you. I completely agree.