Tuesday, April 13, 2010

Fannie and Freddie excluded from financial reform - WHAT

The Democrats in congress are busy "reforming" the entire financial system. Guess who they are excluding from the reform? Fannie and Freddie are being excluded. Weren't these two, Fannie and Freddie, the stars of the financial crisis tragedy? The Democrats in congress can't reform anything. They cannot even fathom the root of the problem, much less address it.

Here is a bit of reform. Stop giving undeserving individuals and businesses my hard earned tax dollars. If I, Mr. American Taxpayer, want to be charitable, I will do it on my own terms. The congress should not be choosing winners and losers.
In fact, as several analysts have pointed out, Fannie, Freddie, Ginnie, and the FHA are all repeating the same mistakes that got us into this mess in the first place. And yet, because admitting they need reform would shift blame for the meltdown from evil, greedy bankers to stupid, conniving Democratic politicians, it appears that the government is thinking "in for a penny, in for a trillion dollars' when it comes to these now government owned mortgage lenders.

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