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January 26, 2009
Please, Uncle Sam...
...may I have some more?
$100 billion just isn’t what it used to be.
Over the weekend, Freddie Mac (FRE) requested a second draw on its Treasury Department credit facility, saying $30-35 billion would suffice to keep its net worth above zero, thank you very much. After taking $14 billion in the third quarter of last year, Freddie has now chewed through almost half its $100 billion taxpayer-provided safety net in just 5 months.
Posted by tree hugging sister at January 26, 2009 04:43 PM
Comments
That's nothing. When I'm offered free money, I usually take it in less than five months. And I find more fun ways to spend it that I wouldn't have if it weren't free.
Posted by: Skyler at January 26, 2009 06:24 PM
Fannie and Freddie need to be broken up. They serve absolutely no good purpose, even if they once did (which is doubtful).
Posted by: Dave J at January 26, 2009 07:25 PM
Lord, I'm in the wrong business.
Posted by: JeffS at January 26, 2009 07:43 PM
This massive government spending is as Pat Buchanan
said" The last tool in the tool box." If this
doesn't stimulant the economy, there is nowhere else
to turn.
I was an Obama supporter,but he seems to be bringing in the same slimy creeps to run things as
any other Democrat would have.
We may be witnessing the end to our nation as a
first world country.Maybe, the corruption is so deep there is no hope.
Actually, I kinda liked Romney but,he was too
white and Mormonish to win.McCain was too crazy
and Hillary was- too fake.It's kinda a war.Your
side must start to lose before they get rid of
the lousy generals.We haven't hit bottom yet,but
it will come within two years.Tanks will be the streets..
Posted by: greg newson at January 27, 2009 12:37 AM
It's sinking sand :(
Posted by: nancy at January 27, 2009 05:52 AM