Jul 11 2008
Freddie and Fannie: Taxpayer Bailout Looming
As we suspected, rumors are that plans are being finalized for Freddie and Fannie to get their taxpayer (read: “inflationary”) bailouts. To think that these organizations were incapable of providing clean accounting a few years ago. Then, as the abyss grew more clearly defined last fall, they were suddenly supposed to be our economic saviors, of course at the urging of our present “not letting this sucker collapse before my election day in 2008″ crop of politicians. Meanwhile, Bernanke is in the grab-bag and willing to try anything in desperation, poor sun-of-a-gun.
Anyone blindsided by this news simply hasn’t been paying attention. Well, to the correct analysts, at least.
