CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS (mparent7777_1) wrote,
CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS
mparent7777_1

Obama Plays Ball

d by: Anthony M. Freed | August 25, 2008

Obama: Fannie and Freddie “too central to the housing market” to fail, supports bailout

Fannie Mae and Freddie Mac shares were on the rise in stubborn opposition to a down market on news of they have completed a multi-billion dollar debt-sale, and the news coincided with presidential hopeful and democratic nominee apparent Barack Obama’s statement today where he reiterated his support for the trouble GSE’s and the as-good-done GSE Bailout which will be funded on the backs of the nation‘s taxpayers:

“Here’s the problem: If Fannie Mae and Freddie Mac collapsed, then probably the financial system would receive such a body blow that it could be disastrous.  You probably couldn’t get a mortgage,”  he said.
 

“I think long-term what we have to do is, we have to go ahead and make a decision, if these are public entities, then maybe they ought to get out of the profit-making business… and if they’re private entities, that we don’t bail them out,”  Obama said.

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Tags: bailout, banking, economy, fannie mae, freddie mac, obama
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