A few months ago Fannie Mae reported a Q1 $8.7 Billion loss, a story tucked away in one of those late Friday afternoon ‘hide-me’s’. We talked about how issues such as this reflect upon the need to increase the debt ceiling relaying the fact that Fannie was selected as a top 10 Fortune 500 company this year. More information has since leaked and it just gets worse.
Obama has approved $34 Million for 6 Fannie and Freddie executives probably over the last few years. There have been $154 Billion in cash payouts, they realized stock was unacceptable and the regime complied.
The liberals were quick to define Enron accounting and blame Bush for it yet all of those geniuses are unable to identify a hint of that today. News media followers obviously do not attack unless they are told.
Unnecessary spending is eating our lunch and only the people, Tea Party, Fox…, and GOP realize it. Again, why no Senate budget? We should have, would have gotten out of Freddie and Fannie long, long ago. The GOP has pushed for reform for a long, long time. Obama and the libs want disaster. Who in their right mind wants to raise taxes to support this?