Wow, I have to tell you, this is really quite a brilliant plan that Obama has!
So, first the government forces Fannie and Freddie to lend money to people who couldn't afford it.
Then, they virtually go bankrupt because well, the people couldn't afford to pay their loans. Imagine that? Whodathunkit?
So We bail out Fannie and Freddie.
Then... gosh, we get all these foreclosures and the housing market gets whacked.
So whats the plan? Obama makes Fannie and Freddie bail out the people who defaulted on their loans to Fannie and Freddie who we had to bail out because they bailed out the same people they should never have given loans too.
Confused? I am.
So, who's going to bail out Fannie and Freddie again? China? Hmm.
And just think... they will have to create more taxes to support all this.
Yet another reason we need the fair tax!