The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (135185)	7/20/2008 11:18:03 AM
From: Jim McMannis	Read Replies (1) of 306849

Bailing Hard and Getting Soaked washingtonpost.com What are we taxpayers getting for our money as we bail out the geniuses who have run some of our leading financial institutions into the ground? The Treasury is extending a reported $300 billion line of credit to Fannie Mae and Freddie Mac, but what do we receive in return? The answer, I'm afraid, is very little -- other than relief from the imminent threat of a much worse crisis. I'm glad that a systemic meltdown has been avoided again, temporarily. But these bailouts are the equivalent of "no document" loans to borrowers who are saying in effect, "Lend me billions right now or I'll destroy the international financial system."

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