Saturday, September 20, 2008

Bush Loves The US

So much so that his rape of our treasure seems fitting.

Lets see;
The Pubs change the laws allowing lenders to offer adjustable rate mortgages to anyone, whether they can afford them or not. Then these lenders are then allowed to sell these risky mortgages to Fannie and Freddy (they are off the hook now and keep the $$$).

Now it gets interesting, a lot of people can't pay these darn mortgages and start foreclosing. Freddie and Fanny tank, because the stock they sold based on the bad mortgages tanks. This is where it gets really bad.

The US Government has done nothing but prop up the people who already made a ton of money selling those bad loans, so now they get paid twice.

It gets better, they have also refused to make variable rate mortgages illegal. What's the hold up guys?? Are you all fucking insane?

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