Wednesday, July 16, 2008

Classic Jim Rogers video clip – Fannie & Freddie ‘an unmitigated disaster’

Rogers calls Fannie, Freddie Rescue Plan a 'Disaster'.

It’s an unmitigated disaster. I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae. I mean, what is this? If that is what they are doing with our tax money, why don’t they ask us? I didn’t say, take my money, my tax money, and buy Fannie Mae. Give it back to us if that’s what they are going to do with it. And what are they doing guaranteeing their debt? The people who bought debt in Fannie Mae and Freddie Mac can read a prospectus. They can read it. It says it is not guaranteed by the government. Anybody who can read a balance sheet knew that both of those companies were a sham and they had problems.......

Posted by katalan1 @ 10:27 AM (446 views)
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