PELOSI-SCHUMER SET STAGE FOR GOVERNMENT BAILOUT AND HUGE TAXPAYER LOSSES IN UPCOMING YEARS
Based on the reports, the government is now in the business of subsidizing and guaranteeing mortgage loans of up to a whopping $730,000.
A program that started to help people get their first home in America is now all about a bailout for lenders. ("Hey, Mikey, refinance this, so I can go home with the money I lent.").
Sound totally ridiculous? It is. It's not your government, silly; it's theirs.
Anyway, consider buying U.S. financial stocks - a certain, large California one? - on this news of government credit giveaways (and maybe even the insurers). You'll need the returns to pay the tax bill (bailout of the GSEs) when it comes due for this bogus move.
Friday, January 25, 2008
PAC Pelosi Does As She Is Told
