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Paulson says Government needs to buy bad mortgages, suggests Fannie and Freddie.

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AnonApprsr

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Mr Paulson said said:
Fannie Mae and Freddie Mac, which were recently taken under the federal government’s wing, would expand their purchases of mortgage-backed securities to help ease the problems. He declined to lay out specifics of the unfolding recovery program, which he said he would work on through the weekend with lawmakers so that it could be acted upon next week. But he said that the program must be well designed and “sufficiently large” to protect taxpayers “to the maximum extent possible.”

http://www.nytimes.com/2008/09/20/b...52&ei=5124&partner=permalink&exprod=permalink
 

Couch Potato

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About time.

It's about time our government started spending money to fight the terrorist threat to ruin our economy.
Osama bin Laden said:
very important to concentrate on striking the American economy by every possible means.
In spite of winning a few battles, were are in danger of losing the war. :new_all_coholic:
 

Mike Garrett RAA

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All they have to do is print more money...most of America doesn't care or understand the implications anyway.
 

Couch Potato

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You're right Mike. A little 25% inflation compounded over a few years and nobody will be upside down on their mortgage. :rof:
 

Workbox

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All they have to do is print more money...most of America doesn't care or understand the implications anyway.
You are correct, and Got to love the "Leave no Child Behind" Program. It will get worse.
 

AnonApprsr

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"Leave no Child Behind" is a good idea, too bad teachers and schools try to cheat at it.
 

Terrel L. Shields

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needs to buy bad mortgages, suggests Fannie and Freddie
They certainly are expert at buying bad mortgages....
 
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