Personal Development for Smart People^TM Forums

Dan.Linehan · 07-16-2008, 08:43 PM

Bailouts are welfare for the rich. Fannie and Freddie are now "admittedly" insolvent and will go bankrupt. Nice opinion piece on this from Jim Rogers.

Jim Rogers : Let the Fannie and Freddie go bancrupt

Quote:

I'd like to know why the people at Fannie Mae aren't in jail right now? And the people at Freddy Mac aren't in jail?

Dan.Linehan · 07-16-2008, 09:02 PM

Freddie Mac CEO Dick Syron's $18.3m paycheck went up 25% last year - even as the company went from a $2.3bn profit in '06 to a $3bn loss in '07.

Fannie and Freddie and the Lie of ‘Free Enterprise’

Dan.Linehan · 07-18-2008, 09:45 PM

They also spend $170 Million on lobbyists.

beautyscientist · 07-19-2008, 01:52 PM

That is the way it is with banks. If they go bust we all suffer. If they get bailed out we all pay.

Time for a bout of stiff regulation I think.

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07-16-2008, 09:02 PM	#2 (permalink)
Dan.Linehan Family Member Join Date: Oct 2006 Location: San Rafael, CA Posts: 4,896	Freddie Mac CEO Dick Syron's $18.3m paycheck went up 25% last year - even as the company went from a $2.3bn profit in '06 to a $3bn loss in '07. Fannie and Freddie and the Lie of ‘Free Enterprise’

07-18-2008, 09:45 PM	#3 (permalink)
Dan.Linehan Family Member Join Date: Oct 2006 Location: San Rafael, CA Posts: 4,896	They also spend $170 Million on lobbyists.

07-19-2008, 01:52 PM	#4 (permalink)
beautyscientist Senior Member Join Date: Jan 2007 Location: UK Posts: 398	That is the way it is with banks. If they go bust we all suffer. If they get bailed out we all pay. Time for a bout of stiff regulation I think.

Personal Development for Smart PeopleTM Forums

Personal Development for Smart People^TM Forums