China threatens the US regarding Fannie and Freddie

[QUESTINY]

Behind the scenes the Chinese Government is demanding that they be made whole regarding the loses they incurred with regard to Freddie Mac and Fannie Mae. The details on the amount of money being demanded and the time frame is unclear. If anyone else has information regarding this matter please post or send me a Private Message.

[Zarathustra]

see Questiny's post in the "news and updates" section for the Russian reaction to the Fannie and Freddie takeover...

[Zarathustra]

People, you should read Q's post again in order to understand the true backdrop of the socialization of Fannie and Freddie. This is the key to not only the burden that has been thrust upon the American taxpayer, but also the "white elephant" in the international diplomatic living room.

[lehomonuka]

AW! They had the nerve to "buy us out" and we defaulted on them,tsk tsk
we "brats" may get a spanking, SOON. as well we should

as pooh said " It is curiouser & curiouser"

[Zarathustra]

Originally Posted by lehomonuka

AW! They had the nerve to "buy us out" and we defaulted on them,tsk tsk
we "brats" may get a spanking, SOON. as well we should

as pooh said " It is curiouser & curiouser"

L,

I understand your point, but you must go beyond that. The "buyout" you mentioned was de facto requested by the Bush administration, in order to fund their wars for hegemony.

Imagine if 50, 60, 70 years ago the American people were aware that their own government had "auctioned" off this percentage of its mortgage industry to China, and Russia, and Saudi Arabia, and Japan, knowing that the securities were "garbage". Then, when those nations had the ability to dump enough dollar denominated paper on the open market to "bury" the economy in a flash fire, their government made those losses whole, and placed the entire burden upon the tax payers themselves. Not only by sticking them with the bill itself, but also by borrowing the money first from the Fed, thus sticking them with the interest on the bill. There would be blood in the streets.

In other words, this isn't about incompetence, poor judgment, lack of economic understanding, etc..., it is about treason. Benendict Arnold was punished for less.

You're correct in the sense that the Chinese, Russians, et alia, should not recieve the sympathy of you and I, but we miss the essential point if we focus on that aspect and do not direct our justifiable rage against the perpetrators of this despicable, traitorous, and criminal situation - our own government.