{"id":4776,"date":"2008-09-07T14:35:56","date_gmt":"2008-09-07T21:55:44","guid":{"rendered":"http:\/\/www.amptoons.com\/blog\/archives\/2008\/09\/07\/whine-whine-whine\/"},"modified":"2008-09-07T14:35:56","modified_gmt":"2008-09-07T21:55:44","slug":"whine-whine-whine","status":"publish","type":"post","link":"https:\/\/amptoons.com\/blog\/?p=4776","title":{"rendered":"Whine, Whine, Whine"},"content":{"rendered":"

\"fail.jpg\"<\/a>I mean, who could think there’s anything wrong with the economy<\/a>?<\/p>\n

The US government took control of mortgage giants Fannie Mae and Freddie Mac on Sunday, placing them in a government “conservatorship” to help avert a financial system meltdown from the housing crisis.<\/p>\n

Treasury Secretary Henry Paulson announced a four-part plan that allows the US regulator to seize control of the government-chartered, shareholder-owned firms underpinning trillions of dollars of home loans.<\/p>\n

The plan “is the best means of protecting our markets and the taxpayers from the systemic risk posed by the current financial condition” of the two government-sponsored enterprises, or GSEs.<\/p>\n

“Because the GSEs are in conservatorship, they will no longer be managed with a strategy to maximize common shareholder returns, a strategy which historically encouraged risk-taking,” Paulson said in a statement.<\/p><\/blockquote>\n

Now, this is better than the alternative — an utter collapse of Fannie and Freddie, and a full-blown meltdown of the mortgage industry. But it’s still pretty frickin’ bad, and it’s going to cost the American people a lot of money — although, in defense of the Bush administration (no, really!), it probably was the least bad option on the table<\/a>.<\/p>\n

But this still underlines the problems with the economy, which can’t be wished away by a politician who claims to care about the problems of ordinary folks, and offers absolutely nothing by way of solutions to said problems.<\/p>\n","protected":false},"excerpt":{"rendered":"

I mean, who could think there’s anything wrong with the economy? The US government took control of mortgage giants Fannie Mae and Freddie Mac on Sunday, placing them in a government “conservatorship” to help avert a financial system meltdown from … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4776","post","type-post","status-publish","format-standard","hentry","category-economics-and-the-like"],"_links":{"self":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4776"}],"version-history":[{"count":0,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4776\/revisions"}],"wp:attachment":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}