Quote:
Originally Posted by oojay
You might also recall that the Federal Reserve recently "bailed" (bought) out Fannie May and Freddie Mac as well, receiving a huge amount of shares of their stock in return for the "loan", thus becoming their chief share-holders as well.
Yay, the Federal Reserve own all the loan agencies. Wait, the Federal Reserve also sets the interest rates. Uh-oh.
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Hey hey, it wasn't a bail out. President Bush already said they don't bail out private enterprises...and later when when the government announced its looking for congressional authority for an undisclosed financial portion to guarantee Frannie May and Freddie Mac's liquidity Bush later told us, despite that sounding like a bail out it's not a bail out. It's a line of credit for these institutions if needed. So shut up oojay, it's under control and is not a bail out.