Askedweb - Information Community

The govt wants to give 700 billion to several companies including fannie mae and freddie mac. These two companies have bought loans from other banks. these loans were made to people who cannot afford their loans on their homes due to soft regulations. Regulations that allowed them to buy home even if they had no income. Now all these loans are overdue and the intersest rates have raised on these loans. many people are losing their homes and this cause banks to lose money and the two biggest lenders fannie and freddie are going under.

Please understand that this IS NOT a bailout. You are and every other American is the victim of a stickup. We've been robbed! And so have your children and their children. Most Americans that have written or called their elected representatives have told them to vote NO! Their voices don't matter and neither does yours. This was a done deal - the last few days was just a dog and pony show for the consumption of the sheeple. The trivial details were all that were hammered out. The Fed was created in 1913 to protect this country's banksters. Did you know that the previous 2 American central banks had failed for the very reasons that we are facing today albiet a little less sophisticated. Those times the rich stayed rich, the middle classes were wiped out and the poor got poorer. Here we go again. The rich can weather this crisis. The poor are already on federal aid and now a huge part of the middle class will join them as their savings become worthless as the value of dollar collapses. When a loaf of bread costs $50 you'll understand. We wuz robbed!

Miron's point about not creating a "solution" that perpetuates the problem is spot-on.