I Was Wrong
when I wrote this post titled 'The Final Fleecing, Then Goodbye'. This one is a disaster. Banks are allowed to lend $10. for every $1. they have on the balance sheet. Giving $200 billion dollars to Freddie and Fannie, in order to continue buying bad debt from the banks is the same as giving the banks 2 trillion dollars to lend. Frankly, I would rather give it to crackheads. Especially this guy who understands that "shelter" is a synonym for the financial industry.