PoliticalChatter

The Fannie and Freddie debacle continues. Congress is debating the Bush bailout plan with both parties racing for political capital. In the meantime F and F is just sitting there ready and still handing out millions of dollars in risky mortgages. This is an outrage.  

The entire housing meltdown can be pinpointed to F and F and now the federal government is the biggest single holder of mortgages. In essence, the federal government is wiping out the private property market, thanks in part to the private banking system and their reckless behavior.  

This can have a far more reaching and destructive effect than anyone is noting. The private sector cannot compete with the government simply because one is attempting to make money, the other is not. The government will offer mortgages at low rates, with few if any requirements focused on financial reasons. The mortgage sector is at a real risk of being taken over directly or indirectly 100 percent by the federal government. At the very least the mortgage system will soon be at the mercy of the federal government and their endless hurdles of red tape and political correctness. It is the unavoidable evolution of the process and in the end the destruction of private property.  

I encourage you to call your congressmen and demand that F and F be shutdown.  

This link will take you to a listing of the phone numbers, just simply type in your zip code on the left tool bar.  

http://www.congress.org/congressorg/home/

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