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Blog Entry 275 of 426 View from the middle or thereabouts.
A political pundit said most of us live life between the 40 yard lines. I'm one of them. Sometimes I'm right of center, sometimes the other way around.

Befuddled by Bailouts
Contributed by: Brian Olson   on 9/8/2008

The government folks worked over the weekend to bail out Freddie and Fannie. These are the two agencies that underwrite mortgages to the tune of trillions of dollars and were sinking fast.

So the government also known and YOU AND ME are gong to pump in $200 billion to keep them from going under.

We've been paying our mortage on time so I know we're not part of the problem but apparently we will be part of the solution.

Frankly, I don't understand much of this. Warren Buffett was intervewed on CNBC this morning and thinks it's a good idea.

Wall Street seems to like it, as I write this the market is up 314 points. If you had investments in Freddie or Fannie, looks like you're out of luck. But China apparently won't be. That seems to be a tad unfair.

Here's what I want back. Whatever ever the lowest fixed home mortage interest rate in the land is, I want it too. With no closing costs. Long as I'm helping Freddie and Fannie, they damn well should help me.

There's another bailout on the horizon, $50 billion to the Detroit Automakers formerly known as the Big 3. Some thoughts on that tomorrow.

Monday Memo:
8:15pm is too late a starting time for a Monday night game.



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CONTRIBUTOR INFORMATION

Brian Olson

Highlands Ranch , CO

Brian Olson has posted 426 blog entries and 21 comments since joining on 11/30/2007. Brian Olson 's average blog rating is 4.72.
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