PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neeka who wrote (747202)	8/9/2006 12:04:26 PM
From: DuckTapeSunroof	Read Replies (1) of 769670

I hope I'm wrong on that prediction, too... but I don't think so. The agency is, what?, $50 Billion or so in the red now? (And, I believe there is a rising tide of defaulted plans headed their way that will greatly increase the amount of their obligations.) The taxpayers, as per usual (remember the biggest rip-off and 'bailout' in US history, the S&L debacle from the 'eighties? The taxpayers are STILL paying on the bond debt from that one... well in excess of 1/2 trillion dollars, when all interest costs are counted) will be on the hook for the politicians screw-ups and ought right fraud.... (Luckily, if caught and dealt with in time, this bailout, although HUGE, will still be less then the S&L mess.)

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