The Federal Reserve has backstopped the purchase of Bear Stearns to the tune of $29 billion. It will loan $85 billion to insurer AIG. It's letting banks borrow up to $150 billion using risky mortgage-backed securities as collateral. And it's letting investment banks, which it doesn't regulate, get short-term loans using the central bank's discount window.Hum.....
The Treasury, meanwhile, has pledged to backstop Fannie and Freddie up to $200 billion. Lawmakers passed legislation allowing the Federal Housing Administration to insure up to $300 billion in loans for troubled borrowers. They're likely to loan $25 billion to the auto industry.
[ cf Yet another bailout - Taxpayer tally ]
Ok, so maybe Sarah can be excused that she did not know that Fannie Mae and Freddie Mac were not government welfare organizations that were clearly in need of some market discipline.... Given the current Nationalist Assault of Nationalizing more and more of the Financial Sector, as a great leap forward for the Corporate Statists, it is understandable that being able to differenciate between corporate entities and state entities can be a bit complicated....
But now that the numbers are going PAST 'iraqi day' count values - and well past what the Evil Liberals were pooh poohing as the costs for occupying and mission accomplished dancing the Glorious Victories of Iraq, would this be a good time to work out why americans want to live in a country where the Corporate Statists are setting the fall fashion colour tips in Black and Tan...
I mean, yes RED, scary colour!!! It's The Sign of Islamo-Fascist-Zionist-Communist-Papist-M
But does that really justify this level of Corporate Statism????
Is this really what the troops are fighting for?