Better keep an eye on this potential back-door Tarp.

There is a plan for Freddie Mac and Fannie Mae to buy mortgage backed securities from the big banks.

The Treasury has lifted the caps on aid Fannie mae and Freddie mac can recieve to cover losses. Dennis Kucinich wants congressional hearings on the matter, and warns “This new authority must be used responsibly and for the benefit of American families. This cannot be used simply to purchase toxic assets at inflated prices, thus transferring the losses to the U.S. taxpayers and acting as a back-door TARP”.

Sneak this authority for unlimited aid in on Christmas Eve so it is not noticed, and if this is intended as a back-door Tarp, we should have outrage at the bankster’s chutzpah.

What happened to the JUST America, where those who caused the mess and losses have to clean up after themselves, instead of dumping the mess onto the innocent but naive average taxpayer.

- silva

Related Posts:

• Hey Bernanke 1 + 1 will always eventually equal 2. Quit dreaming and go back to kindergarten.
• The donkey Democrats caused this mess in the first place, led by Clinton and Obama.
• David Weidner scarcely mentions the elephant in the room: sub-prime loans.
• Distortion of reality…then if anything goes wrong…taxpayers pay.
• QUESTIONS THE SENATE NEEDS TO BE ASKING BERNANKE:

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