Markets Cheer Fannie, Freddie Takeover

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I'm very conservative in what I think the Government should be involved with. The Three exceptions I have are 1. Military, protecting us and our rights, 2. Education, investing in our future, 3. Home Ownership, The American Dream. Everything else Anyone else can do a better job than Government.

Ben Townsend of CO 1:24AM September 09, 2008

What's the happiness all about?
The US government just added 12 trillion dollars in financial obligations to it's books.
Just precisely, how, is this good for anybody in the stock market? Why should the market be rallying over this?
This is being billed all over the place as a Good Thing(TM), what it is, is severely inflationary and since housing prices aren't going to come down, and buyers aren't going to be entering the market, it's going to lock up the housing market entirely.
The more of this garbage I see, and the more I see US Pravda heralding it as a great thing, and the more the markets act entirely illogically, the less I trust our system to be a free one, because it isn't.
This has done absolutely nothing for the economy. Nothing at all. It won't create jobs, it won't decrease consumer debt, it won't free up lending, it won't make banks solvent, it won't do anything at all that is positive.
All this has done is make the Chinese happy, which we now have to do, otherwise, they're going to take their trillion dollars of T-Bills, and dump them on an currency exchange.

Richard Wicks of CA 7:54PM September 08, 2008