Should our taxes pay for their screw up??

If Government controls it then they are responsible for not monitoring what was happening. THis didn't happen overnight. Government waited until the greedy got everything they could get out of it and then allowed it to collapse and pretended they just found out.

Gets involved?? They control it. They let stockholders run it but they control it. It's not really a free market if our gov controls it. So if it fails then so does our economy. And they would not let that happen.

Well its kind of a difficult process. See the government controls Fannie Mae and Freddie Mac but the are privatley owned corpaorations,this means people can buy stock in these corporations. See the bale out process would make shares available for congress to buy. This would probably be between the 2 and 3 billion dollars worth. See Fannie Mae and Freddie Mac are in with HUD and all the government housing for the poor and elderly. If these corporations went under then there would not be in housing beening built for these people. Releasing these billions of dollars would still allow these corporations to run everyday business untill thing get back to normal. This is also very important to our economy because, all the loans that these corporations have gave to people are now owned by overseas banks. So if we went belly up on all these loans this would look very bad to other countries and would strectch relations. If you have more questions just ask. I mean it's going to happen we are going to bail them out. The only question is how much are we going to give them and is it going to happen again. this is the SECOND time for Fannie Mae. So it's just a matter of more checks and balanaces.

I do not think that this is a rerun of the enron thing. I am not saying that the EXOs are not also responsible, but there are other outside influences. I think time will bring out the whole story. I believe there will be more failings to come. Americans had better be ready to hang onto their shirttails for awhile and not trust anyone except themselves! In the end, I fear that more and more of America will be owned by China and India and even the Nordic countries. Nothing is truely American anymore. Everything is owned by a conglomerate of countries or corporations. I do not like it and neither do most Americans, but how do we as individuals stop it when they are simply after the almighty dollar? No on cares about quality or pride anymore! Shalom

Yep it's a little crazy how we are supposed to have a series of checks and balances in our government. Have you seen how much the pres and vp of Fannie mae made? Unreal how much. For how long they were able to do it without anyone saying anything. Fannie Mae scandal hasn't gotten as much pres as the Eron thing but maybe it is more important because it reflects systematic issues of corporate America.

It's crazy how about 6 people can be responsible for the fall of the middle class and they do not have to held accountable.

they kept playing with numbers making it look like they were making all this money because they were giving loans to everyone over this 5 or 6 year period. dude went from making 2.4 millions a year to 24 millions a year. And now our market is paying for it. Ohh yeah he also took an early retirement at 55. Name is frank raines.

Well it just seems a bit weird to me. In the real world, where I am from, you have to work for your money. 40 to 50 hrs a week. Just like the people losing their houses work for their money. If you don't do your job then you lose it. I used to own a business and after about 3 years I went belly up. No one was there to bail me out. Sorry it's called life. Thanks for your response!!!!