Screw Fannie And Freddie

GOVERNMENT-BACKED MORTGAGE GIANTS NEED A $300 BILLION TAXPAYER BAILOUT

FITSNews – July 21, 2008 – If you’ve never heard of twin mortgage behemoths Fannie Mae and Freddie Mac, don’t worry about it.  Chances are you’ve heard of Enron, and these two organizations are basically cut from the same cloth … only they’re government-sponsored so liberals don’t get their panties in a wad whenever earnings are misstated so that top executives can inflate their year-end bonuses.

Yeah, that happened … and the feds were only able to recover a fraction of the skimming. On top of that, in spite of the current “housing emergency” in America, Fannie and Freddie have already spent $1.6 million this year lobbying the federal government … and are planning ritzy receptions for the upcoming Republican and Democratic national conventions.

Anyway, if you don’t read anything else today, check out this brilliant AP investigative report on how these two pseudo-governmental entities have repeatedly abused the public trust while benefiting from preferential treatment thanks to their high-dollar hired guns.  And now Fannie and Freddie are coming hat in hand (with President Shrub‘s support) for a $300 billion taxpayer-funded bailout that has no restrictions and no timetable for repayment – unlike previous U.S. bailouts of Mexico and Chrysler, for example.

Oh, and as much as we give Sen. Jim DeMint grief from time to time, we’d like to applaud him for having the balls to stand up to Fannie and Freddie’s taxpayer-funded gravy train.

In fact, DeMint’s been “sounding off like he’s got a pair” on a number of different issues lately, which is probably why La Socialista recently ran an article comparing him to Jesse Helms.

But no matter what intentionally-polarizing spin the liberal press tries to put on it, we couldn’t help but notice in the article that DeMint seems to have finally figured out something we’ve trying to get through the thick skulls of countless South Carolina politicians.

In his own words …

“I spent a number of years as a team player, trying to work with our leadership, only to find that our leadership was taking us in the wrong direction.”

Yeah, you can say that again. And again … and again …

And of course it’s particularly true here in South Carolina, where Gov. Mark Sanford is frequently chastised by status quo insiders for not being a “team player.”

Well, our question is this … what in the hell have Republicans done at either the state or national level this decade to make anyone want to join their team?

We’re not saying Sanford and DeMint hang the moon on a nightly basis, but when you’re party is no different than the Dems, don’t be surprised if you start seeing a few desertions …