« Home | Vote Yes Dems, end your time in Washington » | Arrogance or Hypocracy? » | Should this be a surprise? » | Iran? No worries China has them » | Van Jones a Treasure? » | How is your Stimulus working out? » | Obama pats his back for spending a dollar to save ... » | Colorado follows Washington Healthcare Folly » | Deadliest Catch favorite Phil Harris dead at 53 » | Obama is Failing » 

Wednesday, March 10, 2010 

Fannie Mae and Colorado funds

We know for a fact that Fannie Mae and Freddie Mac were a large reason as to why the housing bubble burst and that the economic problems that followed were a direct result of piss poor management and policies.

The policies of forcing lending businesses to loan money to those who were and are incapable of affording such moronic high loans. The policies of basically giving money knowing that it cannot be paid back is like throwing money out the window on the highway. So then why has the State of Colorado deemed it a good investment to put money into such a organization?It makes no sense fiscally at all. Especially when there are better and proven investments out there that will not be a bottomless pit.

This being said the next important question is when did government go into the business of making money? The have a continual source of income. Though it is supposed to be limited it is paid every year. The taxes charged by government for failed services is in the billions a year just in Colorado alone. Government should have a surplus of funds to cover emergencies. However they should not be in the process of making money. the only reason that they are doing this is to expand the welfare state. An expansion that is breaking the back of the taxpayer.

So if a State has made investments and is showing a profit? Why then are they pushing legislation to raise taxes and more money? Do they know something we do not, or that we should know?

Colorado has invested over 2 billion dollars, that's $2,000,000,000,00, in Fannie Mae. A company that has claimed bankruptcy and has not just once but twice been bailed out with federal money. Not only this but they have opened up their idiotic loan practices to make even more bad loans and are looking ant a third bankruptcy. The safety net for them is Barney Frank , who keeps handing over money to keep them solvent.

With over 2 billion dollars invested from Colorado one has to seriously wonder how bad of shape Fannie Mae is really in. Then one has to wonder why Colorado keeps this money in Fannie Mae. Should they not remove it and be responsible to Colorado tax payers and put this money into something safer, something that is not going to file bankruptcy and have to be bailed out yet again.

All this being said, the over reaching aspect of government trying to make money is just another example of how "We the People" have allowed corruption, fraud and greed to take hold of our State and Federal governments and put all of us at finical risk.

When government starts to run a deficit and considers raising taxes. It is time that they tighten their belts and consider reducing spending. This includes money being thrown away on the welfare state. The expansion of unemployment benefits only keeps people from finding work. The increase in handouts only makes people less likely to be self responsible and sufficient.

It unfortunately now has become a part of human nature to sit on our backsides and let someone else do the work. We must reduce government greed and spending. We must become more self reliant and do for ourselves.

Colorado is not broke yet. It soon will be if the same clowns are allowed to mismanage our future. It is time to clean house and put responsible leadership in place. Those who will help cut back on the welfare state and reduce irresponsible spending.

For a look at Colorado's fiances, click on the link.

http://www.colorado.gov/cs/Satellite?c=Page&cid=1191919517240&pagename=Treasury%2FTRLayout

Links to this post

Create a Link

About me

  • I'm Devious Mind
  • From Denver, Colorado, United States
  • Good judgemnt comes from experiance. Experiance comes from bad judgement. Karma, its a bitch.
My profile
Powered by Blogger