From: fagan411
"The Mother of All Bailouts"
Ron Paul talks about the bailout out of the housing industry and how it really just destroys the dollar and adds enormously to the debt.
Also, slipped into the bill, was the stipulation that all credit card transactions must now be reported to the IRS.
www.bloomberg.com writes:
The U.S. House of Representatives approved legislation designed to shore up confidence in Fannie Mae and Freddie Mac and stem the record surge in mortgage foreclosures, sending the bill to the Senate.
House members voted 272-152 in favor of the measure, which lawmakers and administration officials expect will be passed in the Senate and signed into law by President George W. Bush. The bill gives Treasury Secretary Henry Paulson power to inject capital into Fannie Mae and Freddie Mac and provides for a federal agency to insure refinanced home loans.
Read more: www.bloomberg.com
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