Elmer, Fannie & Freddie – Oh My!
Little Elmer Fudd is finally admitting that Fannie Mae and Freddie Mac were very costly mistakes. I repeat “costly mistakes” because the American taxpayer has spent $148 billion on these two losers and the Congressional Budget Office estimates $389 billion will be the total bail out tab.
Elmer, told Fox Business Network in an interview “There were people in this society who for economic and, frankly, social reasons can’t and shouldn’t be homeowners.” He went on to say, “I think we should, particularly, stop this assumption that you put everybody into home-ownership.” Isn’t Elmer the brilliant financial genius that told the American public that concerns about his two money hungry offspring were “overblown” and that there was “No federal liability whatsoever?”
I find this turn around in Frank Fuddy Duddy quite troubling. Why didn’t he spew this kind of talk in the early 2000’s when reform of these two monstrosities might have prevented America’s financial meltdown? From early 2000 clear through 2008 financial Fudd Dudd was declaring that his offspring were not the cause of America’s financial meltdown but that the private sector and Wall Street were the real boogie-men!
My snarky mind can’t wrap itself around this sudden change in little Elmer. No, I’m inclined to think that November 2010 has the brainless Elmer Fudd shaking in his little shoes. Even his big brother in crime Timmy Geithner Fuddy is coming to his aid with remarks like “We will not support returning Fannie and Freddie to the role they played before conservatorship.” Why, I repeat, “WHY” were these two idiots not thinking logically when they took my hard earned tax money and just handed it over to the two spoiled brats Fannie & Freddie?
Elections can really make an extremely bad politician and a tax cheating treasury secretary do a 180-degree turnaround. Oh My! However, I think it’s way too little, and way too late for the spendthrift Fudd brothers. In fact, I envision little Elmer and Timmy chasing Wabbits together somewhere in the back woods come 2011. Good-bye you Wascally Wobbers!