Sunday, September 07, 2008

Seizing control

Even in our current bizarro world, this opening paragraph from the NTY about the takeover of Freddie and Fannie deserves some scrutiny:
The Bush administration seized control of the nation’s two largest mortgage finance companies on Sunday, seeking to shrink drastically their outsize influence on Wall Street and on Capitol Hill while at the same time counting on them to pull the nation out of its worst housing crisis in decades.
It's the Bush adminstration that has seized control, not the government of the US, says the article, and the takeover counters F&Fs 'outsized influence' on Wall Street and Capitol Hill. Does it counter the influence, whatever it may be, or just put it under the direct control of the Bush administration. What does that mean, anyway?

And, for the topper, the Bush adminstration is counting on F&F, under their control, to pull the nation out of it's worst housing crisis in decades. This is total bullshit, all this has nothing at all to do with the housing crisis. There may be a housing crisis, but this is about the credit crisis, and a good excuse to raid the US treasury, already submerged in debt.

What we are seeing, in REAL LIFE SLOMO, is the greatest ripoff of government funds of all time. Are you going to speak up, Obama? No, I thought not. Fucking bitch.


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