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Levin · 07-18-2008, 04:08 AM

The reason for the bail out of Fannie and Freddie is not so much for the distressed homeowners, but for the rest of us; that is, for the entire financial system.

The primary difference between today and Reagan's time is the interdependence and interconnectedness of the nation's and world's financial institutions.

If we allowed Fannie and Freddie to fail, China, Russia, and the Middle East would stop buying our debt, sell as many dollars as they could, and we'd be dead.

What we need to do most as a country and populace is decrease our national and personal debt.

SteelBlue · 07-18-2008, 04:10 AM

Quote:

Originally Posted by il Padrino Ute

Fair enough.

I appreciate what the folks who are firefighters. They are good people and do an under-appreciated job. Until the day comes that there are private fire departments, I have no choice but to pay for a service that I most likely will never need.

What do you suppose that service would cost if it was a pay per use service? I'm thinking it's a far better deal to share that cost with other tax payers. Also, think of how many people would never be able to afford it. Does a private company refuse service for the poor?

il Padrino Ute · 07-18-2008, 04:17 AM

Quote:

Originally Posted by SteelBlue

What do you suppose that service would cost if it was a pay per use service? I'm thinking it's a far better deal to share that cost with other tax payers. Also, think of how many people would never be able to afford it. Does a private company refuse service for the poor?

I don't have any idea what it would cost. But over my lifetime of paying taxes, I can't imagine the portion paid would be less than having a private service bill me for services rendered.

Nor do I know if a private company would refuse service for the poor. It's one of those things that we'll most likely never know.

I comply and pay the tax in order to avoid the consequences, but if I had my druthers, it would be to only be billed if I needed the service.

I need to state that fire protection around the home is one of my obsessions.

07-18-2008, 04:08 AM	#31
Levin Senior Member Join Date: Mar 2008 Posts: 1,484	The reason for the bail out of Fannie and Freddie is not so much for the distressed homeowners, but for the rest of us; that is, for the entire financial system. The primary difference between today and Reagan's time is the interdependence and interconnectedness of the nation's and world's financial institutions. If we allowed Fannie and Freddie to fail, China, Russia, and the Middle East would stop buying our debt, sell as many dollars as they could, and we'd be dead. What we need to do most as a country and populace is decrease our national and personal debt. __________________ "Now I say that I know the meaning of my life: 'To live for God, for my soul.' And this meaning, in spite of its clearness, is mysterious and marvelous. Such is the meaning of all existence." Levin, Anna Karenina, Part 8, Chapter 12 Last edited by Levin; 07-18-2008 at 04:12 AM. Reason: grammar