Wednesday, September 10, 2008

Bond Bearish on Bailout

Missouri's Senior Senator Expresses Concerns About the Bailout Involving Fannie Mae and Freddie Mac
Says Action May Be Necessary, But Raises Important Concerns About Future Regulation
In a statement, Bond said that any rescue plan must first protect American taxpayers and not Wall Street shareholders. He added that the treasury plan included some good steps like firing the failed leadership of the institutions but the long term cost to taxpayers is unclear. Bond said that it is unacceptable to use American's hard-earned taxpayer dollars for fat compensation packages for failed executives.

1 comment:

CharityAngel said...

I don't think the cost to taxpayers is unclear! We have to pay for their stupid bailout. And our children and grandchildren too. The national debt is a disgrace, and to increase it to save some company that the government has interest in is ridiculous. We should not all be paying for their poor investments. And who cares if they fire people when they give them large severance packages when they do. Freddie and Fannie gave money to our politicians here in Missouri, so it is no wonder that they helped to protect their own interests over the people's. It is only because it is an election year that they all pretend to care, and it is just pretending, their records show that they care more about the corporations and those that donate to them, then We The People. Republicans and Democrats are both to blame.