More g-d bailouts!!
 

D*mnit, how many different classes of bad decision-makers are we going to bail out with tax money?!?!

From here:

Earlier this month, the Detroit Free Press reported that the top dogs at Ford, GM and Chrysler had a meeting of the minds and decided that the way out of their current losing streak would be to ask the feds for a lifeline. They figure they'll need $40 billion or so to ride out their current troubles until they reach the promised land of hybrids, the Chevy Volt, and, who knows, maybe even profits.

Whatever you do, don't bear the brunt of your bad business decisions. Nooo that wouldn't do, not at all. Toyota, Honda, VW, et al. seem to be doing fairly well. WTF is up with the big 3?? Same old, same old, huh?

No bailouts for anyone--individual or corporation.

People sure make risky decisions when they don't have to deal with the consequences...

coughsavingsandloansbearstearnschryslerindymacfann iemaefreddiemaccough

Here's a study showing that the Fannie and Freddie Mac bailouts may cost us up to $2.5 trillion:

A recent study from the Congressional Budget Office (CBO) has zero credibility. It pegged likely taxpayer losses in the Fannie Mae and Freddie Mac bailouts at $25 billion. For those with a sense of history, it is worth remembering that the S&L bailout had a $160 billion price tag. The numbers diverge so far from reality as to be laugh-out-loud funny. Funny, that is, except that the CBO estimate demonstrates a willful disconnect with the actual consequences of federal government actions.

As demonstrated below, the real cost of the bailouts will easily exceed $1.3 trillion. In fact, the real cost is likely to range between $1.3 trillion to $1.6 trillion, and is not unlikely to reach $2.5 trillion.

If the bailout of Fannie/Freddie gets into the trillions, I start to worry about US debt loads and strength of the dollar. Why do people have to be so damn stupid?

Not to worry. "Hope and change" is on the way.

No kidding...what a load

You picked the wrong color.

The freedom to fail is great. So is the freedom to succeed. You can't really have one without both.

"Hope" is a strategy. Just ask all the folks buying lottery tickets for retirement.

I wish I could do that. Yeah, umm.. Mr. Congressman? I spent several years ignoring the market demand and got caught with my pants down on my product lineup. Can you float me for a year while I retool? I don't want to have to cut off my Champagne habit.

Plain and simple, you don't insure something without rules. Freddie and Fannie are to blame, way back to the Clinton era, as well as the Bush era, for allowing this "Stated Income", no money down, interest only, 40 and 50 year loans. When the lender can get his commission and sell (dump) the bad paper with impunity. Someone else will insure it.