I noticed a pretty young thing on CNN gushing about the bailout for Fannie Mae and Freddie Mac. She pleasingly says the House passed a bill now going to the Senate to spend $300 Billion to rescue 400,000 homeowners.
Lets see ... $300 Billion divided by 400,000 Homeowners = $750,000 per homeowner. Yeah, I could stand a little saving at that rate.
The $300 Billion will make 300,000 new Millionaires from the 400,000, many of whom got into a financial crunch by being stupid. Now its me being stupid.
That money is not going to Homeowners who need help, no its going Lenders, who got the F&F siblings in trouble because of their greed. So Joe taxpayer, that would be you and me, are going to help the fat cats get fatter.
King cat drew $20,000,000 in salary last year. Actually I guess he deserves it cause he's getting his stockholders manna from heaven.
I wonder how many taxpayers are going to suffer bankruptcy over such largesse?
If ever there was a rip off of the taxpayer, this is it!
But in a way they deserve it. They refuse to vote the bastards out.
Editor's Note: Here's Ron Paul's take on the "Mother of All Bailouts"
