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Fannie Mae
http://endthebailouts.com/2008/11/11...spite-bailout/
good investment, america!
Since Fannie Mae has been propped up as an essential backbone to this economy, there will very likely be another round of funding coming out of the federal budget. Prior to September of this year, FNMA was not backed by any sort of federal guarantee. They rose to through the ranks of financial institutions simply based on the belief that the federal government would not let them fail.
Now that Fannie Mae is on the verge of failure, the taxpayers finally “own” the company. In order to back this agency, the Congress had to raise the deficit spending ceiling to $800 billion. Now, after the additional bailouts across the sector, the deficit ceiling is well over a trillion dollars. It’s a good thing we set these “ceilings” in Congress, since every time they need more money, it’s just a simple addendum to “bump” the ceiling a little higher.
Any thoughts on where our “ceiling” will go to next?
Now that Fannie Mae is on the verge of failure, the taxpayers finally “own” the company. In order to back this agency, the Congress had to raise the deficit spending ceiling to $800 billion. Now, after the additional bailouts across the sector, the deficit ceiling is well over a trillion dollars. It’s a good thing we set these “ceilings” in Congress, since every time they need more money, it’s just a simple addendum to “bump” the ceiling a little higher.
Any thoughts on where our “ceiling” will go to next?
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