Fannie and Freddie would never have gotten so awful if their debt did not come with implicit taxpayer backing. When we, the people, elected these awful buffoons in Congress over the past decades, we signed up for the bail outs.
“When we, the people, elected these awful buffoons in Congress over the past decades, we signed up for the bail outs.”
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Yep, people keep voting for these nutcases when we could pick a name from the phonebook and probably do better.
The numbers do not lie, Every time there was a bailout announced, the market jumped up. It did not make sense to me because everyone knew bailouts have consequences. If the market was not fixed it would have tanked with the jobs data. I understands banks are and were in serious trouble, but a truly free market would be afraid of government intervention. My only conclusion is, it has been rigged. It dropped rather precipitously, we had a “crisis”, now suddenly it’s all better now. That does not even make sense. Every time there was a negative report it dropped, until last week? I understand some firms are reporting profits,gee, that’s kinda quick. I am not an economist, armchair or otherwise, but I see some serious inconsistencies that scream “Rigged!”