Reluctant Realtors: Fannie, Freddie – WSJ.com
Posted September 17, 2010on:
- In: Communism in America | Constitution of the United States of America | Dodd-Frank Financial Reform Bill | Economy/Money | Federal Reserve | Financial Industry Reform | national deficit, taxes, national budget | Obama admistration | Obama and ethics | Obama Executive Decress | Obamanation | Progressives Movement to Destroy America | Stimulus Plan 2009 | TARP Financial industry bailout | Taxes | United States taxes
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Interesting article that tells exactly why I was so against the government bail outs and the federal government taking over the ownership of the two private mortgage companies Fannie Mae and Freddie Mac. Yes, Fannie Mae and Freddie Mac were private finance and mortgage companies that should have been allowed to fail! along with all the others that had thru poor management practices gotten themselves into trouble.
Our government has no business being in the real estate business! But thanks to our Congress and Obama we are now the owners of 191,000 homes. The rate the government is taking over the ownership of homes that have been foreclosed on is now skyrocketing and no ending in sight as long as the economy is in depression mode. As you all know homes must be taken care of, it’s called upkeep and if they are not kept up they can not be sold. Tax payers are paying the utility bills, lawn service, pool maintainance and all other costs related to the ownership of a home. In this case 191,000 PLUS PLUS PLUS!
This being constitution Day I might point out that the government ownership of anything related to commerce is unconstitutional. But then our Congressmen and women have made it clear they have no idea what the Constitution says and actually hold the Constitution in contempt. President Obama and the Progressives say the Constitution is a work in progress and as written is outdated. I personally feel it is the greatest document ever written to govern mankind, and that it is as alive today as it was the day it was written. Every problem we have as a nation can be solved by using the principles laid out in the Constitution. It is when we move away from these principles that we lose our way. We have been moving away from the law of the Constitution for over a century now and we must if we are to survive as a nation return ti its guidance. BB BB