Bailouts

A few minutes ago, I received an urgent request for me to comment on the bailout of Fannie Mae / Freddie Mac. The points made by this local physician were quite succinct on the issues of bailouts and financial incentives for large corporations. Please read this email for yourself. The only item that has been removed is the physician's name to protect her privacy.

Anna Liisa:

If you would, please comment on your blog regarding the Fannie Mae/ Freddie Mac bailout.

As a small business owner, I cannot imagine the government "bailing" us out if we made very poor choices.

It is interesting how those companies privatized their profits however they socialized their losses......I am amazed.

The government encouraged them to write more loans for unqualified consumers, knowing the bottom would fall out at some point!

The CEO's of those companies are Harvard/Ivy League graduates and certainly able to make long term actuarial financial predictions.......how on earth did they allow this to get to that point?

Furthermore, Walmart and other large companies like that, get financial incentives to employ people in our county-however they are the largest employer with the most Medicaid covered employees because they refuse to give anyone a "full time" position.
They continue to socialize any loss a company that large would need to absorb, in order to do business!

Anna, you are my only hope! Please say something about this!!!!!