Did Fannie Mae and Freddie Mac, AIG and deserve their bail out?
By sedel1027
@sedel1027 (17846)
Cupertino, California
September 23, 2008 11:04pm CST
The AP is now reporting that these three companies - along with 21 others - are under investigation for fraud.
http://www.foxnews.com/story/0,2933,426783,00.html
So if found guilty I wounder if they are going to have to give the money back.
I don't 100% understand why the government should be bailing out businesses anyway. Odds are it is their own fault for failing. There are so many other people that could have benefited from the $700 billion bailout! I bet some of the companies were in Bush's pocket before he was president.
4 responses
@WhatsHerName (2716)
• United States
24 Sep 08
They didn't get it yet. Right now they are trying to figure out what to do. You might not be able to understand why the government should be bailing them out because, the government shouldn't be bailing them out. Isn't that who has been bailing out small business after small business?
I don't know, I have been learning a lot though. The way I see it we have to bail them out or it could crash our economy which by the way if it doesn't crash from this, it will for sure when the next big business fails.
It is their own fault, same as it's our own fault if we mismanage our money.
I heard Obama has been involved with the CEOs, I guess we will see now that the FBI is investigating...
@sedel1027 (17846)
• Cupertino, California
24 Sep 08
I wish that Bush would allocate those funds to a more worthy spot - like lowers gas prices or insurance rates.
I think you are referring to this:
McCain has tied Obama to Fannie and Freddie's troubles and has called on Jim Johnson and Franklin Raines - both Obama supporters and former Fannie Mae executives - to return million-dollar "golden parachute" payments they received from the corporation after leaving.
which also states that
lobbying firm of John McCain's campaign manager was paid $15,000 a month for several years until last month by one of two housing companies taken over by the federal government, a person familiar with the financial arrangement said Tuesday night.
http://www.mylot.com/w/newsarticle/1262670.aspx
McCain should stop pointing fingers.
@sedel1027 (17846)
• Cupertino, California
24 Sep 08
I agree. I think they are both idiots LOL Still not as bad as Bush though.
@stephcjh (38473)
• United States
24 Sep 08
I really don't think so. No one bails us out when we are in a financial crisis. No one steps in to help us out and charges the big wigs taxes to cover it like they are doing to us.
@goldeneagle (6745)
• United States
24 Sep 08
I just watched Anderson Cooper 360, and according to people Mr. Cooper was interviewing, there are MULTIPLE criminal investigations focusing on Fannie and Freddie right now. I don't recall hearing anything about AIG being investigated, but I know for sure that Fannie and Freddie are. The next few weeks will be interesting to say the least...
