Evolution of Dispossession

Evolution of Dispossession
How to Steal a Country?

Monday, July 14, 2008

Freddie Mac and Fannie Mae

7000 articles on this topic this morning at GoogleNews and barely a whisper on why the Fed should bail out 2 private corporations.

Unless I misread the Constitution, I am pretty sure that there is NO provision that says tax dollars taken from private citizens ought to be used for bailing out 2 private corporations with questionable lending practices. Schumer's comment in the link tells you all you need to know. These 2 companies had a liquidity crisis because of their lending practices. In plain English, they misused depositor's money and when the deposited funds were called for, none was there.

Companies like this ought to go out of business, and tax dollars should not be the province of the Fed to further misuse. And by the way, the Federal Reserve System is itself unconstitutional.

But tomorrow a different headline will steal American attention, and this issue will be forgotten.

2 comments:

wdporter said...

Yeah...this event was actually the most disturbing event domestically in a long time.

The two organizations were REALLY already Government agencies anyway...But now it's official.

scottie said...

Yep. Agreed.

I'll quote RP from a debate :

"The founders would be ashamed of us for what we put up with"