Pownce : Note From timzen81

An interesting article about how the USA is becoming socialist in a round about way... kinda.. sorta...

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David B. replied Jul 16th

I think the key to it all is the last couple of lines.

"If they go down, so do whole neighborhoods. So, perhaps, does the global financial system.

“The thing we have to do now is to make sure that Fannie and Freddie remain solvent and continue to make loans,” Mr. Baily said. “We just don’t have any choice.” "
Heather V. replied Jul 16th

I agree with the last lines as well, I can't imagine how things will be without Fannie and Freddie. But it bothers me that that there is no personal responsibility as well, people took out loans that they couldn't afford and now the govt has to bail everyone out. Loans need to be harder to get because people can't be trusted to know what they can and can't afford. How sad for all of us.

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