bAdmin does its part to support the free market (via The Washington Post):
The Bush administration’s plan to rescue ailing mortgage-finance giants Fannie Mae and Freddie Mac is likely to cost about $25 billion during the next two years, according to congressional budget analysts.
Now I know what you’re thinking. You’re thinking “Why, that’s a little more than two months in Iraq. Such a deal!” Ah-ah-ah! Hasn’t the housing meltdown taught you to read the microscopic print?
However, “that scenario is far from the only possible result,” the letter says, and the cost estimate takes into account “the probability of various possible outcomes.” That means rescuing the mortgage firms could cost significantly more than $25 billion if the authority is exercised, the letter says.
Ha, ha. Funny bAdmin. Always trying to get Congress to agree to lend you some unspecified amount of money because you’ve fucked something up and don’t give a damn about who has to pay to fix it (because it won’t be you).
Speaking in New York earlier today, Treasury Secretary Henry M. Paulson Jr. urged Congress to quickly approve the proposal for Fannie Mae and Freddie Mac, saying that their continued operations are “central to the speed with which we emerge from this housing correction,” the Associated Press reported.
Now that’s original. I’ve never heard one of the Chimperor’s lackeys issue an urgent call to SPEND SPEND SPEND to prevent something bad from happening.
In the past three days at least. But here’s the funny bit:
Paulson said that housing is at the “heart of our nation’s economy.”
Yeah and who had his thumb up his ass while a bunch of greedy bastard drove stakes through it?
Why does anyone even listen to these people? They are w-r-o-n-g about everything, either through incompetence or because they are lying like a bunch of optimistic rugs.
181 days until Paulson starts his job as Chief Condom Dispenser in a seraglio.
I kan haz bukkit? I needz 2 bail!