Quote:
Originally Posted by Rocky_Shorz
well the alternative was to have foreigners come in and buy up the loans, I think it was a good move to keep America owned by America.
These are the assets that will allow a new currency to be created...
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Rocky,
You have to understand that the one of the prime motivations behind the Fannie and Freddie buyout was the massive amount of their securitized debt held by China, Russia, Saudi Arabia, et al... (see Questiny's posts on this subject in the current events section). You see, a significant portion of that debt is OWNED by foreign countries.
I can see the phone call to Paulson by a representative of the Chinese gov. -
"You had better damn well guarantee that debt or every dollar denominated piece of paper we own will be dumped on the open market within 24 hrs."
Paulson "Yes sir"
That our government allowed this situation to occur is beyond incompetent, it is criminal and traitorous. If the American people, en mass, trully understood how their country has been financially destroyed, intentionally at that, there would be blood flowing in Wall Street, just as there was when slaves were traded there (Wall street got its name from slaves being lined up along walls for sale).
Don't be fooled by Paulson, Bernanke, and their criminal friends when they tell you that these buyouts were "for the good of the American people", for they are not!
They benefit their criminal friends and the foreign countries they have allowed through their traitorous negligence to own a signifigant portion of this nation's financial infrastructure.