No-More-Bailouts Bill Springs a Leak:

Fannie and Freddie Ask for More
Posted May 10th

Sen. Chris Dodd’s financial regulation bill say it will end financial bailouts. In fact, the Senate — anxious to reassure Americans on that fact — even added an amendment last week, with a stated purpose “To prohibit taxpayers from ever having to bail out the financial sector.” But someone forgot to tell the folks across town at Freddie Mac and Fannie Mae.

Freddie last week announced it had lost $8 billion in the first quarter of the year, and would be asking for another $10.6 in taxpayer help. And today, its twin Fannie announced a $11.5 billion loss, and asked for a further $8.4 billion in aid from taxpayers. That’s in addition to the nearly $145 billion in aid to Fannie and Freddie have already received.

So did the two government-sponsored enterprises slip this bailout in under the wire before Congress stopped them? Not quite. In fact, the plan does nothing to reform either Fannie or Freddie. That apparently is not a priority. Sen. Mark Warner, in fact, said that a plan for reform of these out-of-control firms will have to wait until next year.

Sens. John McCain, Richard Shelby and Judd Gregg are planning to introduce an amendment to the Senate legislation to require action to address Fannie and Freddie. It’s not expected to pass.
This is a serious hole in the USS Dodd. And it’s the American taxpayer who will be drenched as a result.

http://blog.heritage.org/2010/05/10/no-more-bailouts-bill-springs-a-leak-fannie-and-freddie-ask-for-more/

How can those pompous a$$ members of Congress sit up there and drill
the Goldman Sach executives when their baby Freddie/Fannie is the fuse that created the whole problem. Crooks don't have any respect for crooked sheriffs. I don't know how any of them sleep at night to tell u the truth.

If u really want to know who is the blame for most of this financial crisis....it's Freddie and Fannie...Go here

http://ezinearticles.com/?Fannie-Mae-and-Freddie-Mac---Two-Culprits-in-the-Economic-Meltdown,-But-Not-the-Major-Culprit&id=4190809

The major culprit being the democratic party.

Franklin Raines did the exact same thing as Ken Lay and Jeff Skilling. He used bogus numbers to show a profit that didn't exist and made $90 million dollars in compensation.. Not to mention his sweetheart deal from countrywide along with buddy Chris Dodd..

Anyone notice that when you look up the names of the thieves and corrupt mobsters that were responsible for the mortgage meltdown they are always tied to some politician.. and they are usually corruptocrats..

Raines should be in jail..

Aw, give it to 'em. There's folks who would gladly fork over a few extra bucks so freddy-n-fannie can live a richer life.:sarcasm: