Sunday, September 07, 2008

I don't know how many houses I own

Looks like the Fannie/Freddie bailout provides for the U.S. Treasury to buy stock.
The Treasury can purchase up to $100 billion of a special class of stock in each company as needed to maintain a positive net worth.
So now we'll all own more houses than we can count!


Scooter said...

Terrible policy though I'm not sure what else could have been done politically.

NO MORE CORPORATE (OR QUASI-GOVERNMENTAL) WELFARE...EVER. This is unforgivable. I can at least understand the motives behind welfare-welfare.

Governmental assurances assure only one thing...bad biz decisions. If I have a governmental cushion, I'm going to take advantage of that and that means taking into account the risk factors which might be mitigated by gov't assurances.

I mean this to include tax breaks, too, especially those on local and city levels...which my state and town are only too free to dole out.

If I make a bad call on any decision, why should you, LJ or Michael bail me out?

Stephanie said...

Completely agree.