Monday, September 8, 2008

Fannie Mae & Freddie Mac

The history of these two is typical of Republican rule. They started out as government entities, then were privatized, now that they are in trouble due to Republican destruction of regulation for businesses, the government is bailing them out.

So what is the difference between it being a government entity or privately owned? Once privatized there is then a board of directors and stock holders, all of whom want their share of the cut. So the difference of privatization is billions being sent to a small set of very rich people, causing greater expense for those using these institutions. Then they get bailed out by the tax payers and we all get hit in the wallet again and the principles of the companies still make millions.

This is why the Republicans want privatization, not to help YOU, but for THEM to get rich at your expense. Then they launch a continuous propaganda campaign over decades to convince people that socialism is evil, the worst thing possible. They do that because they want to save socialism for themselves.

It’s really a beautiful system for the rich, they make lots of money and if things go wrong they won’t have to pay for it. Socialism for the rich, it's the perfect scam, and made possible by the stupidity and gullibility of the America people.

The America Dream does not exist. The best indicator of your income is your parents’ income. Upward mobility in the US rates about 16th world-wide, most of Europe has much better rates.

Take Denmark, a very socialist government. They offer school to people for as far as they can go. So if you are smart enough and willing to work hard you can raise yourself up by going to school long enough to become a doctor or a scientist. If your parents were poor factory workers and can’t put you through college you don’t have to settle for what you can get.

And that’s just one example. Recently the people of Denmark were named the happiest in the world. When TV was doing a show on this I noticed something strange, the faces of everyone were relaxed and stress free. Look at any American and underneath is massive fear because we all know if just a few things go wrong we are living on the street. Or else we or our children are dying from cancer and we can’t pay for the treatments. We all know that disaster is waiting for us, but the Danes know they are safe from total disaster.

Update: There is an article all about this on Alternet that explains it all in more technical detail.


anton said...


Your entry on vjack's site got me to revisit your site again. I wish your wife well.

With regard to the "financial rescue" that is occurring it looks an awful like the very "socialism" they say they are against. Oh, I see, it's only "socialism" when the middle and lower class receive the benefits. When the "rich guys" get help its called, "bailing out the economy". Some of us call it "corruption"!!!!

It would appear that the formula works like this: When the "power people" get in trouble, just print more money and spread it around!!!!

Or you could send your "treasury" people to China to see if they will extend you more "credit". I doubt that US American's really know how much each and every one of them is in debt to China!

In addition to their own "spending", their mortgages, credit cards, college educations, etc., every single US American (babies included) must also share in the National debt which as of this month works out to $25,000 for every single person. That means that a family of four US American's also owes $100,000. And that is if we can trust the figures they publish! If their past performance has anything to do with their figures, its a lot more!


KevinBBG said...

Hi Anton:

Glad you came on over and thanks for the good wishes.

The thing they are no longer talking about with Fanny Mae and other bailouts is that the entire crisis was caused by the Republicans getting rid of regulations on the banking industry.

Which only proves once again that rich people go crazy when there aren't enough checks and balances on them.