So our government is bailing out Fannie Mae and Freddie Mac. In addition to being really stupid named companies they own a huge percent of Americas mortgages.
Now I don't even pretend to know a damn thing about finance, but if a company does shitty business and gets itself in so much trouble it can't operate anymore why should the government and truly, the tax payers be the ones who have to pay the price to save them?
Shouldn't the CEO's give up most of their pay? Shouldn't they sell off shit they can, to make ends meet?
Just as normal citizens have to cut back and struggle when they make bad decisions, so must corporations. But the difference is these companies have government higher ups in their pockets by contributing millions of dollars.
So greed is turning our country more and more evil quicker and quicker.
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2 comments:
the top people at these companies still received their bonus.
the problem is they are so big, they monopolize the industry. so if they fall, all the people that work for them that are little people fall. cascading effect. since they are the largest loan givers, it would effect you if you wanted to get a loan.
agreed with your comment.
While I get that the system has grown so large letting it ail could affect tons of people. But maybe that's what needs to happen so someone smarter and more industrious can develop a better way to do things.
There have been many giant industries that have had to reinvent themselves because of an old model that no longer works.
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