I must say I very much agree that these bail-outs and other corporate welfare programs bother me a good deal.

Any comments?

The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is "more communist than China right now" but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday.

"America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions," Rogers said.
Stock markets jumped after the U.S. government's decision to launch what could be its biggest federal bailout ever, in a bid to support the housing market and ward off more global financial market turbulence.

But Rogers said in the long term the move spelled trouble.

"This is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I'm not quite sure why I or anybody else should be paying for this," Rogers told "Squawk Box Europe."

Interesting....no comments on this?

A republican administration basically takes over the largest housing lenders but...here's the nifty part.

Profits? Should any be realized? Do they go back to the federal government...nope

Losses? Well...it's a bailout


So, the republicans, champions of personal responsibility have done what?

Not sure what to do now. Laugh? Cry? Puke?

It bothers me but the reasons the goverment and economists give for the bailouts are so convoluted Im not sure what to say about it all.

There is a lot to this and the basic reason they bailed them out is because there are many other financial institutions that have accuired loans from those two and its quite confusing? But if nothing was done now most likely more banks would fall. Do I agree with it absolutly not but dont make it a political issue its not. If you want to start that then get into who was running the companies and go after them. Ask them where they donated money to Rev Jessie Jackson's rainbow push coilation is 1. Tell me there isnt something fishy with that.

Oh, it is. Financial deregulation led by John Mccain's Treasury Secretary in waiting, Phil Gramm is a big reason for this mess.

So donating to a charity that may be for minorities (minorities include anyone that is not white or heterosexual) is fishy? Clarify or I will be calling that one what it is, racist, prejudice, hatefilled, etc.....

I don't like the idea of this happening either but considering the fallout, what could be done?

dont quote one part of what i said take it as a whole. I wae responding to Lynann blaming it on the republicans because thats all she knows how to do is pass blame on to republicans dems can do no wrong. I'm pretty sure the ceo's of these companies where liberal

Well, in this case, the Republicans did lead the deregulation that's resulted in things like Enron and the mortgage crisis. The worst is probably still ahead. Oh, and most CEO's are very much conservative.

It is definitely to the CEOs advantage to be conservative republican, they take care of their own, at the detriment of the average joe, who doesn't even realize it, mind you.

Ok so no liberals are CEO's or is it they are to smart and honest and could never let something like this happen

I wrote "most." CEO's make alot of money and the Republican's take care of those with alot of money. Many lower-income people are duped into voting Republican even though it's against their financial self-interest.

Amen

The federal Reserve is non partisan.

It is trying to hold the paper of the loans as collateral.

At present, Ginnie Mae is the only legal entity to give the Fed acces to control and merging the three institutions is the plan.

The common stock of freddie and fannie fell by 85% mONDAY MORNING ON THE STOCK MARKET.

The shares are worth .75 cents now.

the losses of projected bad loans are now built into the value of the paper.

The income potential for the federal government is 4-5% on the paper, if they are successful in rewriting the defaulting loans and cleaning up the mess.

Clinton did this when he decided to loosen lending restrictions for Americans and get everyone in a house.

He didn't foresee speculators taking advantage of the situation.

The republicans are fixing the mess the looney left created.

Know the facts and free your mind.

Are you takling about the "The Gramm-Leach-Bliley Act," introduced by Phil Gramm (R-TX), John McCain's Secretary of the Treasury in waiting? Facts...

privatize profits and socialize losses its the republican way.

On September 9, 2008, CNBC’s popular financial show “Squawk Box Europe” interviewed Jim Rogers (CEO of Rogers Holding) on his view of the government takeover of Fannie and Freddie:

“You can see that this is welfare for the rich. This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters... This is outrageous. Who are these people who are taking our money and doing this and ruining America?"


Who, indeed!
http://www.augustreview.com/news_commentary/global_banking/globalist_ultimatum%3a_pay_up_or_collapse_2008090998/

In bourgeois society capital is independent and has individuality, while the living person is dependent and has no individuality.
Karl Marx