It's a very complex problem/solution depending on how you see it.
- Taxpayers are gravely skeptical, and with good reasons ("Uh, why can't they be allowed to fail?" Said one reader): Robert Reich's blog
- Europeans and the many of the world's stock markets seem to like the idea: Freddie and Fannie give Europe a lift
- Even our stock market advance on the bailout news: USA Today
"Stocks advanced Monday as investors placed bets that a recovery in the financial and housing sectors is
more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and
Freddie Mac. The Dow Jones industrials gained more than 290 points"
In my opinion, our frustrations (taxpayer's) over our money being used to save corporation's faces are founded on solid ground. But for our country to lose Fannie and Freddie along with the 6 trillion dollars they own and back up will be nothing short of a disaster as Dave Rovelli puts it, "It saves Armageddon from happening".
We can go on and on about this but the question we should be asking is: How did we get to this point? Where have all the leaders gone?
Leave a comment