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<blockquote data-quote="tonyexpress" data-source="post: 730187" data-attributes="member: 1940"><p><strong>Re: Obamanation here today</strong></p><p></p><p></p><p> </p><p><strong>We can only wish it was in the hundreds of millions!</strong><img src="/community/styles/default/xenforo/smilies/FeltTip/sad-very.png" class="smilie" loading="lazy" alt=":sad-very:" title="Sad Very :sad-very:" data-shortname=":sad-very:" /></p><p> </p><p><span style="font-size: 10px">Europe's woes continue to cast a long shadow over the Atlantic because of that ever longer arm, with outstretched hands, fiddling around in our wallets. As expensive as the bailout of Europe is going to be, it pales in comparison to the disaster of Fannie Mae and Freddie Mac. Take a look below at the size of disaster and contemplate what happens when we can't prop these twin towers up any longer. This week there was a bill introduced to dismantle these behemoths, but it was voted down. I thought the overarching theme in Washington was to make sure nothing was too big to fail. </span></p><p> </p><p> </p><p><span style="font-size: 10px"><img src="http://www.wstreet.com/shared/images/020567/100514_2.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></span></p><p>The bill put forth by John McCain (R-AZ), Richard Shelby (R-AL), and Judd Gregg (R-NH) would have limited bailout money to the GSEs to $200.0 billion and wind them down after three years of conservatorship. The bill failed 43 to 56, with two Democrats voting for. Some key Senators voted against:</p><p> </p><p><span style="font-size: 10px">Senators that voted against winding down Fannie and Freddie are below.</span> </p><p> </p><p>M. Bennet D-CO</p><p>B . Boxer D-CA</p><p>R. Burris D-CA</p><p>B. Dorgan D- ND</p><p>C. Dodd D- CT</p><p>D. Inouye D-HA</p><p>P. Leahy D- VT</p><p>B. Lincoln D-AR</p><p>B. Mikulski D-MD</p><p>P. Murray D-WA</p><p>H. Reid D-NV</p><p>C. Schumer D-NY</p><p>A. Specter D-PA</p><p>R. Wyde D-OR</p><p> </p><p><em><a href="http://www.Businessinsider.com" target="_blank">www.Businessinsider.com</a> </em></p><p> </p><p>Voters are sending a clear message to lawmakers but these thin ear guys and gals refuse to listen. I understand that Fannie Mae and Freddie Mac have been great engines for wealth redistribution by taking taxpayer funds to back mortgage loans from non-income taxpayers or those paying very little into the system. </p><p>Fannie and Freddie have been used and abused, and it's time to bring discipline and remove the risk they pose to America and let the free market back into the game. </p><p>The nation is suffering, but the focus is said to be on preventing the next meltdown. <strong>Hey, we aren't out of the current meltdown and those would be remedies are going to be the final blow.</strong></p><p> </p><p><a href="http://www.wstreet.com/" target="_blank">http://www.wstreet.com/</a></p></blockquote><p></p>
[QUOTE="tonyexpress, post: 730187, member: 1940"] [b]Re: Obamanation here today[/b] [B]We can only wish it was in the hundreds of millions![/B]:sad-very: [SIZE=2]Europe's woes continue to cast a long shadow over the Atlantic because of that ever longer arm, with outstretched hands, fiddling around in our wallets. As expensive as the bailout of Europe is going to be, it pales in comparison to the disaster of Fannie Mae and Freddie Mac. Take a look below at the size of disaster and contemplate what happens when we can't prop these twin towers up any longer. This week there was a bill introduced to dismantle these behemoths, but it was voted down. I thought the overarching theme in Washington was to make sure nothing was too big to fail. [/SIZE] [SIZE=2][IMG]http://www.wstreet.com/shared/images/020567/100514_2.png[/IMG][/SIZE] The bill put forth by John McCain (R-AZ), Richard Shelby (R-AL), and Judd Gregg (R-NH) would have limited bailout money to the GSEs to $200.0 billion and wind them down after three years of conservatorship. The bill failed 43 to 56, with two Democrats voting for. Some key Senators voted against: [SIZE=2]Senators that voted against winding down Fannie and Freddie are below.[/SIZE] M. Bennet D-CO B . Boxer D-CA R. Burris D-CA B. Dorgan D- ND C. Dodd D- CT D. Inouye D-HA P. Leahy D- VT B. Lincoln D-AR B. Mikulski D-MD P. Murray D-WA H. Reid D-NV C. Schumer D-NY A. Specter D-PA R. Wyde D-OR [I][URL="http://www.Businessinsider.com"]www.Businessinsider.com[/URL] [/I] Voters are sending a clear message to lawmakers but these thin ear guys and gals refuse to listen. I understand that Fannie Mae and Freddie Mac have been great engines for wealth redistribution by taking taxpayer funds to back mortgage loans from non-income taxpayers or those paying very little into the system. Fannie and Freddie have been used and abused, and it's time to bring discipline and remove the risk they pose to America and let the free market back into the game. The nation is suffering, but the focus is said to be on preventing the next meltdown. [B]Hey, we aren't out of the current meltdown and those would be remedies are going to be the final blow.[/B] [URL]http://www.wstreet.com/[/URL] [/QUOTE]
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