Thursday, November 5, 2009

The fraud continues

US of A is in deep deep trouble. If you haven’t figured that out yet, all you really need to read this story about how the former bankrupt institution of Fannie Mae now want to allow thousands of borrowers on the verge of foreclosure to have the option of renting their homes from Fannie Mae, under a policy announced Thursday 5th of November.

For those of us who know that Fannie, alongside Freddie Mac, that has a similar scheme, is highly responsible for the mess in the American economy, this is like handing over your keys to the robber that just emptied your apartment and then rent your own furniture and your own home that the robber just stolen from you.

Who said government was the solution to any problem?

At the same time as FBI locks up some insider traders the real criminals, the biggest robbers in the history of mankind, roam free still. And one of the main reasons for those illicit people not going to jail and instead handed more billions, namely Franny and Freddie, is allowed to continue the scam.

Even if this scheme may not work as well as the enemies of the people want, it’s still a very good sign how the economy really is doing. Why would something like this even be needed if those “green shoots” was real?

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