Freddie Mac

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The Reid Plan, or how to lose and call it a win

In other words, in the world of real people budgets, if you don’t spend $3000 on a new set of golf clubs – that you can’t afford to buy – you just increased your wealth by $3000. Therefore you now have extra money to buy a $1500 new flat screen television – which you still can’t afford. Try that on the wife (or wives, try a similar example on yur husbands) and see what happens. See if it will work with your credit card company too.

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Fannie Mae and Freddie Mac on the mind of Congress

In effect, The U.S. economy is the Titanic. We have just hit the iceberg that is the mortgage and financial crisis. The ship is being flooded by debt. But like the captain of the Titanic, Senate Democrats (Senators Gillibrand and Schumer among others) believe the ship cannot sink. They have decided to keep sailing on. They want to look at the hole in the ship, but do nothing about it.

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