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Bailout: Take a lesson from Godfather II
Cathy Harris
October 11, 2008
RE TAXPAYERS: Bailing out Freddie and Fannie:
I think Michael Corleone said it best in "Godfather II": "Here's my offer to you, nothing."
The execs of these companies knew the risks they were running approving these loans, just as the people who accepted them knew they had no intention or ability to pay off. Only these people should be made to pay through the nose to "bail out" the country from this mess. The money made by those at Freddie and Fannie should be forfeited - homeowners who took the mortgages should be forced to make good on them.
This is just like the people in Galveston. They were told to "leave or die" as the storm approached. Thousands stubbornly stayed and then blamed the government and President Bush for slow relief response. Sound familiar?
The simple fact is we have a whole lot of people in this country who like to take stupid risks, whether it's gambling with other people's money on Wall Street or gambling with their lives in a deadly storm.
If you want to be a risk taker, a gambler, fine and dandy. But at least have the guts to accept responsibility for your own actions. You got yourself into these situations; now dig yourself out. Just leave the hard-working American taxpayers out of it.
kstiltner1
about 1 month ago
1326 comments
That is right. Now our children will be suffering for this the rest of their lives.