
The federal government bailed out mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) this past Sunday. This recent attempt was made to bring much needed support and stability in the U.S. housing and mortgage markets.
Treasury Secretary Hank Paulson placed the plan into action. Will this plan help US homeowners? Was this really an attempt to keep over 60 countries that invest in securities that finance our debt from foreclosing? This move by the US Treasury should help bring assurance to countries such as Central Bank of China, Kuwait and Singapore. The Us Government will guarantee.
Will these countries continue to carry our mortgage debt? Our mentality of using other people's money to finance extravagant homes that many Americans couldn't afford will wind up costing US taxpayers and foreign investors dearly.
Our country's financial stability, Trillions of dollars in debt, US credit ratings, and a grim outlook with limited choices. We may witness a historical change and end of the US dollar as the world reserve currency. This will surely impact the financial security of the United States Of America for the future.In my opinion our our American lifestyle of the last decade of "Robbing Peter To Pay Paul" is financial terrorism that is tearing our country apart and changing the American way of life forever.
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