Fannie Mae bailout helps Chinese, hurts taxpayers
I was not surprised to learn that the Democratic Congress, led by Mad Madam Mim and her loyal henchman, Steny Hoyer, bailed out the two largest mortgage brokers in the country last week.
To discover, courtesy of the Washington Business Journal, that good ol’ boy Steny has received almost $8,500 in campaign contributions from Fannie Mae is unsurprising either.
Nor is it a shock to learn that ordinary Americans will continue to suffer from high gas prices and the mortgage industries’ bad business practices, while the Democrats protect their own.
But, to learn that Fannie and Freddie were bailed out, according to the Wall Street Journal, after considerable pressure was applied by the Chinese government, which demanded payment in full of the nearly half-trillion dollars in Fannie bonds that they hold, is inexcusable.
Last time I checked, Mr. Hoyer worked for us, the American people, not the Chinese government or Fannie Mae.
This week Mr. Hoyer begins his vacation. Perhaps we’ll see him on the golf course with the Chinese ambassador? Say hi for me if you do. I won’t be there since I have to work to feed my family.
Thanks, Steny.
0 Responses to “Letters to the Editor, Laurel Leader, August 7, 2008”