HowardMonster Housing Bill and the big Bailout
July 25th 2008 13:32
Real Crash- Looking at Capitalism and its Laws:
While idiots like Rush Limbaugh screech about another $1 an hour in minimum wage (less actually) we are at the point of the biggest taypayer billed bailout in history. In case you didn't get the drift, the US Treasury debt ceiling is being raised $800 billion to $10.6 trillion at the same time.
Fannie Mae and Freddie Mac are the only issuers, for the moment of MBS, Mortgage Backed Securities. Therefore they are being used to bail out the entire $6 trillion Mortgage Backed Security market, in hedge fund and tax evasion run through the Cayman Island, British Empire land.
The idea, is that since all the pension funds and municipal and union funds are in this crap now (to make extra money!! greedy bastards) now politically it must be bailed out, no matter what.
In another part of the bill, $300 billion in Federal Housing Admin (FHA) guarantees are being offered to the mortgage people, to issue new loans at 85% of the value of the old (inflated in the bubble) loans. This is the Barney Frank, Credit Suisse addition to the witches brew.
Will this work? No, but it will destroy the credit of the United States and the dollar. Better go for the geezer's Home Owner and Bank Protection Act instead. Freeze the mortgages, don't bail them out, give the banks reasonable rental payments till the whole Freeakin real estate bubble blows out. With Lehman Bros, Wachovia and WaMu going down fast, time is short.
Fannie Mae and Freddie Mac are the only issuers, for the moment of MBS, Mortgage Backed Securities. Therefore they are being used to bail out the entire $6 trillion Mortgage Backed Security market, in hedge fund and tax evasion run through the Cayman Island, British Empire land.
The idea, is that since all the pension funds and municipal and union funds are in this crap now (to make extra money!! greedy bastards) now politically it must be bailed out, no matter what.
In another part of the bill, $300 billion in Federal Housing Admin (FHA) guarantees are being offered to the mortgage people, to issue new loans at 85% of the value of the old (inflated in the bubble) loans. This is the Barney Frank, Credit Suisse addition to the witches brew.
Will this work? No, but it will destroy the credit of the United States and the dollar. Better go for the geezer's Home Owner and Bank Protection Act instead. Freeze the mortgages, don't bail them out, give the banks reasonable rental payments till the whole Freeakin real estate bubble blows out. With Lehman Bros, Wachovia and WaMu going down fast, time is short.
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