Will Bush administration Make Taxpayers Bail Out Wall Street?

Stocks keep sliding into the toilet and the Wall Street bears have the bulls hiding. And Fannie Mae and Freddie Mac are in trouble. 

Will Bush politicized Treasury Department further bail out the greedy mortgage lenders and investment houses that helped cause this economic debacle while telling the typical Americans they screwed, you're on your own?

As the NYTimes reports: "Fannie Mae and Freddie Mac shares plummeted again on Friday — and the broader stock market followed suit — as concern mounted that the government will be forced to take over the beleaguered mortgage finance companies, which some investors fear are at risk of default.

"Less than an hour after the markets opened, Henry M. Paulson, the Treasury secretary, said a government bailout was not an immediate possibility.

“ 'Our primary focus is supporting Fannie Mae and Freddie Mac in their current form,' Mr. Paulson said in a statement. 'We are maintaining a dialogue with regulators and with the companies.' ”

Can Paulson be trusted as he is a Bushite loyalist covering his and his bosses' (Bush and Cheney) posteriors?  They are all culpable in helping cause this economic disaster.

"Investors may be feeling more confident that, even if the companies fail, the government would step in and guarantee their outstanding obligations."

They figure the government will help them but the hell with regular Americans who have lost or are in danger of losing their homes because of avaricious, criminal lenders.

"Under a conservatorship, shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers."

Again, regular American taxpayers will foot the bill for the debacle caused by the criminal Bush administration and their criminal mortgage lending corporate cronies

And Phil Gramm, McMillionaire's senior economic adviser, has the arrogance to tell Americans to stop whining.  He's a contemptible SOB who should be in the slammer with the rest of Bush's gang and criminal corporate CEO's who caused this economic cataclysm. 

 

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