Bernanke: Freddie Mac/Fannie Mae are eligible for access to discount window

[muh_roads]

Mac n Mae? Got $5 TRILLION in your back pocket?

All Bernake should say from now on... "More GREEN INK, Back To The Printing Presses!"

Here's more BAILOUT news, hot off the presses of the New York Times this friday evening, this time it's: IndyMac Corporation one to the largest Mortgage lenders.

Regulators Seize Mortgage Lender, IndyMac

http://www.nytimes.com/2008/07/12/business/12indymac.html?_r=1&ref=business&oref=slogin

When there's 100's of leaks in the dike and you have 10 fingers to plug, what does the future foretell?

holy crap 5 trillion? Is that how big the bailout will be? That would make the Bear Stearns 200 Billion look like peanuts.

Now I know why Peter Schiff said, "if the government bails out Fannie Mae in the same fashion, god help us".

That sounds like something that would cause gold to go way over the $1200 year end projection.

 

[NoMoreApathy]

Soon the Fed will own the majority of the debt in this country, at which point we will truely be slaves.

Imagine the government owning all home mortgages? There will be no more filing bankruptcy. If you default on your home loan, your ass will end up in a labor camp paying off your debt.

I think that's what's happening right now. The government is scooping up all the banks, and soon they will own your house.