$500 Billion Mortgage Industry Bail Out Approvedl

Dear All;

By now you may have heard about the $500 billion bail out of mortgage loans and mortage backed securities. Here's the AP story released about an hour ago:



However this does not include all the other recent bail outs oncluding Fannie and Freddie and Motor City waiting in line for its bailout.

The extremely severe problem is the total unfunded liabilities plus all that off the book debts and social security and medicare and so on take the total national debt to some $100 TRILLION.

See the story here from lew rockwell about that mess:


Instead of making like FDR and stopping a badly needed market correction Congress and Bush are going to prolong the problem and make it worse and the taxpayers are the ones going to take a solid hit to chin.

The solutions are bailing out the ones who made the most and not helping the ones who took advantage or were taken advantage of who now need to pay the piper because the chickens have come home to roost and the fox has been let loose in the hen house and it's way too late to close the barn door it's time to either fish or cut bait. Cockle doodle doo!!! :slight_smile:

However there is an old saying which needs to be enacted instead of the massive bailouts:

You made your bed now sleep in it!!!

OH YES - BTW - get your filthy f*****g money grabbing greasy grimy slimy hands out of my paycheck and out of my wallet and slink back under that rock you crawled out from under.

Ron Getty - SF Libertarian
Hostis res Publica
Morte ai Tiranni