Fannie and Freddie Bailout Cost the Taxpayer ....

[whell]

Originally Posted by bobabode

I can hear Reince Priebus' and the rest pinheads at the RNC, brains a'popping from all the way out here on left coast.

Who says the Dems don't know how to turn a profit?

So, here's how the Dems make a profit: nationalize the ass end of the mortgage industry. Then create a housing market bubble by putting millions of folks into homes they can't afford, and then run the industry and the housing market it into the ground, resulting in millions getting displaced from their homes and millions more homeowners who are upside down on their mortgages. Then, take taxpayer funds from folks who either lost their homes or whose homes have been drastically devalued, and bail out the ass end of the mortgage industry (applying too much bailout money in the process so that someday someone can twist logic and suggest that somehow all this was "profitable"), so that someday in the future we can ignore the lessons of history and do it all over again.

Awesome!


Sent from my iPad using Tapatalk

[bobabode]

Originally Posted by whell

So, here's how the Dems make a profit: nationalize the ass end of the mortgage industry. Then create a housing market bubble by putting millions of folks into homes they can't afford, and then run the industry and the housing market it into the ground, resulting in millions getting displaced from their homes and millions more homeowners who are upside down on their mortgages. Then, take taxpayer funds from folks who either lost their homes or whose homes have been drastically devalued, and bail out the ass end of the mortgage industry (applying too much bailout money in the process so that someday someone can twist logic and suggest that somehow all this was "profitable"), so that someday in the future we can ignore the lessons of history and do it all over again.

Awesome!


Sent from my iPad using Tapatalk

..and what was the Repubs plan again? Let it all go into the shitter which by all accounts would've been worse than the crash '29. Yeah, great plan Mike.

By the way, don't smilies show up on your new iPad? or is this just more humorless twaddle?

[merrylander]

Originally Posted by whell

So, here's how the Dems make a profit: nationalize the ass end of the mortgage industry. Then create a housing market bubble by putting millions of folks into homes they can't afford, and then run the industry and the housing market it into the ground, resulting in millions getting displaced from their homes and millions more homeowners who are upside down on their mortgages. Then, take taxpayer funds from folks who either lost their homes or whose homes have been drastically devalued, and bail out the ass end of the mortgage industry (applying too much bailout money in the process so that someday someone can twist logic and suggest that somehow all this was "profitable"), so that someday in the future we can ignore the lessons of history and do it all over again.

Awesome!


Sent from my iPad using Tapatalk

Awesome indeed I did not realize that Wells Fargo Bank was part of the government. Oh but then GOPers never let the facts get in the way.

Mind you I agree that the American mortgage system is the dumbest idea of the century and so laden with opportunities for graft and outright theft that it was suurprising that it took so long to blow up in everyone's face.

[Oerets]

Dems make a profit will the GOP will start talking TAX CUTS?



Barney

[CarlV]

Being someone who as a kid opened their first savings account at a Wells Fargo branch in 1967 for his paper route money it sure is painful to watch what garbage it has become.


Carl

[Tom Joad]

Originally Posted by CarlV

Being someone who as a kid opened their first savings account at a Wells Fargo branch in 1967 for his paper route money it sure is painful to watch what garbage it has become.


Carl

It sure has gone to Hell.

Are you old enough to remember this?

http://www.youtube.com/watch?v=PkIxtQhqBso

[CarlV]

Yep, I'm that old.
Don't know if you have heard of Old Sacramento, a piece of the original Sacramento with lots of neat things including a "restored" 1850's Wells Fargo office and there is also a great railroad museum. They also had a really outstanding Trad Jazz festival on Memorial Day weekend. The jazz part is pretty much gone these days, but there is a watered down version I'm sorry to say.


Carl

[piece-itpete]

Would that be Keynes, or Bush and his (and Obamas) financial team?

Pete

[finnbow]

Originally Posted by piece-itpete

Would that be Keynes, or Bush and his (and Obamas) financial team?

Pete

It was their financial teams implementing Keynesian policies as opposed to those of Hayek.

http://doughenton.tumblr.com/post/47...een-keynes-and

[piece-itpete]

I don't see supporting Fannie/Freddie as stimulus spending. Obama simply continued Bush's failed policies

Pete