Capitalist Banter

When the Going Gets Tough, The Capitalists Band Together

April 25, 2009

042509The housing market crash that is currently bringing chaos to the many homeowners who stand to lose their homes even with the ton’s of bailout money the government is shelling out is far from over. From the idiots at wall street and the banking sector who conjured out home packages that required no collateral to the very top levels of the housing market giants, Freddie and Fannie who are two of the biggest players in the housing industry they all benefited from the billions of dollars that the market earned. To make matter worse, all the watchdogs watching the watchdogs all knew this was happening and they simply looked the other way, till the market crashed and everybody started pointing fingers at everybody else.
Fannie and Freddie are reporting losses in the billions of dollars (as if they didn’t earn many times that amount) as the housing market crashed taking along the effervescent status symbol that is owning a home of millions of Americans who stand to lose their homes due to the events that transpired against them. Now the government is issuing bailouts as if they were pancakes and who wouldn’t love free handouts but what about the saying, “rather than giving out fish, why not teach people how to fish”. Now the government has a budget deficit in the trillions of dollars and yet people are still losing homes. Now you be the judge and say that that is good governance! Just hope the Federal Government has trillions more for the crisis is still on a rampage!

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