No I don't think it is right to take Freddie and Fannie. You can't give a mortgage to everyone. I think there should be at least 20% down payment, fixed rate, and the mortgage shouldn't be over 4 times the persons annual income, like it used to be. The mortgage lenders should be held accountable for the bad loans. I also think credit is too easy to get, especially credit cards. I know it hurts the economy in the short term when this happens, but long term works out. Even FDR didn't want to "give" money to the poor. He wanted them to work for it, through jobs programs. He said they would be more responsible and not become dependent on the government. This is a form of corporate welfare. Look at GM how they are "hurting". I live in Alabama, and we have a Mercedes, Honda, and Hundai plants recently built and expanding. Toyota built recently in Jackson, MS. Kia is building in West Point, Ga. near the Alabama border. How come foreign companies can build, grow, and prosper here. Why can't GM and Ford? Management, Unions? As for Venezuela, our companies go in there the last 20-30 years, build an infrastructure, oil industry, then Chavez nationalises the industry. This is nothing but stealing. As for our government taking over the two mortgage lenders...it was kind of forced on the government by private companies.
I work for a natural gas company, we have a lot more natural gas, especially on government land, than we have oil. We do need to be running our cars on natural gas, especially fleets of vehicles. We need to be putting up windmills, building solar plants, building nuclear plants, drilling. If we do ALL of the energy, take government restrictions off. We would not be dependent on foreign oil, money would be circulated here at home with better paying jobs in the energy industry, eliminate our foreign debt, balance our trade deficit. Then we wouldn't be as apt to jump into foreign problems, have the better paying jobs that provide medical insurance, etc.
