Freddie Mac and Fannie Mae to Draw Billions More

Posted on January 26, 2009
Filed Under Bailout | 1Leave a Comment2009-01-27+03%3A30%3A37MikesView

January 26, 2009, Fannie Mae announced it may draw up to $16B from Treasury. And on, and on, and on it goes.

The President’s pork laden $1.2T (that’s $816B plus the interest on that additional debt) “stimulus” plan has some opposition thus far in Congress at this time, notably Senator McCain and Representative Boehner. It will take an effort, like that mounted last year against the illegal-alien amnesty bill, for us citizens, our children and their children, to avoid getting screwed by the federal government that is hell bend on turning a free capitalist nation into a socialist nanny-state.

January 23, 2009, Freddie Mac announced it may possibly draw $35B more from Treasury, on top of the $13.8 billion it received last year. Why aren’t government-sponsored enterprises (GSE) unconstitutional? This will probably result in more inflation down the road and devalue our savings even further, not to mention provide another excuse for Democrats to raise taxes.