Freddie Mac, GOP firm hint at who’s to blame for bailout

20 10 2008

There are recent reports of mortgage giant Freddie Mac secretly paying a republican consulting firm $2 million to try to get republican senators to vote down a bill concerning regulation.

These reports are extremely important when looking at why the government needed to spend about a trillion dollars on the bailout package, because it shows how companies blatantly tried to manipulate congress into making people suffer financially.

The three "wise" monkeys of the story

The three "wise" monkeys

This measly $2 million is a problem, but the results of the AP investigation show a bigger problem that probably isn’t isolated to this one instance. If Freddie was careless enough to get caught once, how time times was he successful before slipping up?

And how many other companies do these same kinds of things?

Congress needs to look at this story and take away everything that could be interpreted as a golden parachute for these executives. Not only were these people responsible for the suffering of millions of people, they were also worthless at their jobs and even tried to perform secret missions to acquire power in the senate.

So, while some politicians are saying that playing the blame game won’t work, it could very possibly be because those senators were approached by DCI (the ones paid off by Freddie) and were somehow swayed to vote the way Freddie needed them to.

So who’s to blame for the bailout? The answer is simple. It’s not everyone, it’s not no-one. The answer isn’t to relax about where the blame should be.

There answer is companies like Freddie Mac, groups like DCI and senators like the ones who went along with these groups. Those are some of the people responsible for how terrible the economy is right now.

And Freddie brings up another question that needs to be answered as well: Why only target republicans when trying to take control of congress? What’s wrong with democrats?

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One response

21 10 2008
missalyss

I need to borrow some of your inspirado and start blogging more frequently. How do you do it?! I need discipline! And congrats on being on the fancy growing blog list. That’s exciting stuff!

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