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I saw the headlines recently that said, “Federal officials on Sunday unveiled an extraordinary takeover of Fannie Mae and Freddie Mac, putting the government in charge of the twin mortgage giants and the $5 trillion in home loans they back. The move, which extends as much as $200 billion in Treasury support to the two companies, marks Washington’s most dramatic attempt yet to shore up the nation’s housing market, which is suffering from record foreclosures and falling prices.”
That got me thinking, “Is this Déjà vu all over again?”
Let’s see George W. Bush is acting as the president and we taxpayers are being fleeced for $200 billion.
Wasn’t there a savings and loan crisis in the 1980s? Now who was president? What was that? Who was involved?
• George Bush was president.
• Neil Bush was behind the failed Colorado saving and loan bailout by us taxpayers.
• The $49.5 million settlement of the F.D.I.C. suit is among the largest ever for the agency.
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