The Death Spiral Continues....

I was only able to get through about 2/3 of this before I threw up a little in my mouth. Let me get this straight. You're doing this to protect taxpayers? Hello, again can you please call us citizens? Or are you only protecting those that pay taxes? Also, tell me again how spending my [future] tax money to bail out GSE's with a "flawed business model" to save asshats that bought a house with no money down and no real ability to pay the mortgage is going to protect ME? Really, seriously, could you answer that one for me, please?

So now we haven't just dipped out toes in the mortgage business, now the United States of America is hip-deep in the mortgage business. And, as they say, so are the taxpayers. And where is this money coming from? Well the printing press of course. As Gazaker reminded me, we print a lot of money because we spend a lot of money.

At least Lockhart seems to have a clue, "There is a consensus today that these enterprises pose a systemic risk and they cannot continue in their current form. Government support needs to be either explicit or non-existent, and structured to resolve the conflict between public and private purposes." Well, we all know which way Congress will swing on that vote, the dumb monkey spankers.

God save the Constitution.