Friday, September 19, 2008

The Tomah Journal Tied Mortgage Failures To Sprawl...In April

Talk about prescience.

Posted by James Rowen at 10:00 AM

1 comment:

Unknown said...

Here's prescient: eight years ago, one of the current presidential candidates warned the Journal-Sentinel of a potential taxpayer bailout similar to the savings and loan crisis today, urged lawmakers to cut government benefits to mortgage-market giants Fannie Mae and Freddie Mac -- which he called 'poster children for corporate welfare.'

http://www.votenader.org/media/2008/09/16/meltdown/

He's also the only current candidate demanding "Immediate Changes Required for Any Bailout" such as:

No bailouts without conditions and reciprocity in the form of stock warrants

*No more lobbying for any company that is bailed out

*No golden parachutes and get out of jail free cards for guilty executives

*No bailouts without public hearings

The $1 Trillion bailout being planned over the weekend is a fine bipartisan effort that will heed none of these commonsense ideas that are actually in the public interest.

September 19, 2008 at 7:04 PM

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