The rumored government bailout (translation: paid for by taxpayers) for Fannie Mae and Freddie Mac appears to be set (see the July 11th post). An announcement is expected as early as this weekend. If so, it would be one of the biggest government bailouts in United States history. The takeover includes a plan to introduce captial on a quarterly basis in an attempt to minimize the cost.
4 hours ago
2 comments:
from a historical standpoint it's hard to object to the government's mass bailouts since similar debt-producing methods were put into action to save the U.S. from the Depression
I'm not a fan of bailouts at the expense of taxpayers, but letting these entities fail would be disastrous. I agree that it's necessary it these cases.
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