By Rick Newman
January 13, 2010
In the cast of corporate characters, Fannie Mae and Freddie Mac are A-list villains, thanks to the central role they played in the 2008 financial meltdown. The two mortgage-finance firms failed as spectacularly as AIG, the poster child for finance-gone-wrong, with the combined Fannie-Freddie rescue totaling about $111 billion so far–the biggest bailout of all. Both firms are effectively nationalized, and the government would probably wind them down except for one thing: They underwrite about three quarters of all the mortgages issued in the United States.
[See how the government is swallowing the economy.] Continue reading
By Bob L. The way I see it.
Is this just another story to make people think he is going to do some thing good to happen, or is it just a cover up to throw every one off so he can slide some thing through before any one can stop it.
By Jim Kuhnhenn, Associated Press Writer
January 14, 2010
WASHINGTON (AP) — President Barack Obama told banks Thursday they should pay a new tax to recoup the cost of bailing out foundering firms at the height of the financial crisis. “We want our money back,” he said.
In a brief appearance with advisers at the White House, Obama branded the latest round of bank bonuses as “obscene.” But he said his goal was to prevent such excesses in the future, not to punish banks for past behavior. Continue reading
By Victor Davis Hanson
January 14, 2010
Why in matters of stupid behavior do liberals and Democrats often get second and third chances from the media and general public not accorded to their conservative and Republican counterparts?
We’re seeing it now in the national reaction to Senate Majority Leader Harry Reid’s reported racial gaffe. Compare how he’s being treated to what happened to Trent Lott in 2002.
Public and media pressure forced Lott to resign his Senate minority leadership post after going way over the top at a private birthday party for Strom Thurmond. In his tribute to Thurmond, Lott heaped praise on the centenarian senator’s 1948 Dixiecrat presidential candidacy — despite the fact it was predicated mostly on promoting racial segregation. Continue reading