The more this guy talks, the more I like him. The wife has gone into several uncharacteristic rants lately, concerning the unfairness of taxing us for other peoples inability to actually read their mortgage documents (she drove the mortgage brokers crazy and read every page before signing off on all our mortgages. I can’t even begin to read that fast) before signing them.
Check out what Bob Barr has to say on the subject:
Fannie & Freddie Bailout Bad for Taxpayers -Barr on FXN 7/14
You won’t catch Obama or McCain sounding this type of note. The federal government shouldn’t be involved in bailing out private, for profit industries that break the basic rules of finance and contract. The mortgage industry should be left to hang in the breeze.
This all comes of legalized theft (codified as Fractional Reserve Banking) which is what modern banking systems are based on.