PickensPlan

Fanny and Freddie, my official response, please read, then join me

I am calmer now, its amazing what tabacco can do for you. Haven't smoked a cigeratte in 16 months, but I needed this, and the bottle of Jim Beam I bought.
These combine to act as my valume.
I still feel my muscles tense up a bit and a permanent twitch has moved in on my right eye, blood pressure appears to be coming down a bit.
I think I'll go and charge my credit cards to the hilt, hell, my wifes too, it doesn't matter. I'll just ask for a bailout :)

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Permalink Reply by Debra Goldenberg on September 9, 2008 at 11:36am
Thanks for the information, with that we can conclude that McCain clearly does not know anything about the economy.

And we can stop blaming the Fannie/Freddie CEOs, they did what they could to stop the corruption. Although, if they had been transparent, and taken this information public, the outcry may have produced the needed reform (as we did when we heard of the Bridge to Nowhere). The American public knows when they hear a scam.
Permalink Reply by Debra Goldenberg on September 9, 2008 at 12:02pm
Enron leaders did not look at a dangerous balance sheet and ask the Secretary of the Treasury to take a look at possible corruption. They initiated it. They never had dealings with Obama's law firm in deciding whether to raid the California energy grid. So my line of thinking is not comparable to relating Enron to Obama. Btw, Bush was closely allied with Enron.

It seems the Freddie and Fannie CEOs were assured by our government that policies that looked dangerous to them would be just fine. Maybe they shouldn't have believed the government and stuck to their gut. It would have taken a very strong corporate re-entrenchment to completely reject what was coming to them from the entire deregulated mortgage industry, and they would have faced protests all the way from consumers to Wall Street bundlers. They lacked the necessary fortitude, but that is a big amount of fortitude to expect anyone to have.

I do not blame McCain. But I do blame the lack of regulation that Graham thought would be so peachy for everyone (everyone being those in the banking industry), and thus I think it is perfectly reasonable to blame Graham as a key actor. I question McCains judgement in using Graham as an economic advisor, because look where his advice has led the banking industry, not to mention the people who mearly wanted to own a home and are now out on the street.
Permalink Reply by Ed Husbands on September 9, 2008 at 7:01am
Maybe I can still have the government refund the money I lost on AOL stock in the previous bubble.
Permalink Reply by FredDC on September 13, 2008 at 11:40pm
Well said; get some aspirins and some glycerin in case you get a heart attack when they bail out the automakers
Permalink Reply by Kenneth Guntkowski on September 14, 2008 at 9:54am
Fred,

LOL. So true....
Permalink Reply by KENN DRESCHER on September 23, 2008 at 11:46pm
Grow Hemp, and smoke the Female cokes... lot nicer, and less harmful...

Is the Bail Out good, or bad for energy reform? I believe when gas hit = $3.50 last summer, that's when Morage defaults began to skyrocket!!!

Seems like the best way to get the econmy back on track would be to buy up old gas guzzelers, recycle them. Would have more real value as scrap, than the TP paulsin is talking about having Congress purchase.

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