Tondar's Daily Rant

Prepare yourself for the writings of Tondar the Destroyer, Baron of Atlanta, Rightful Heir to the Throne of Spain, from whom all babies come. As his will be blogged, so let it be done.

Saturday, September 06, 2008

CAN'T GET YOUR HEAD AROUND IT WATCH

This is illegal...

OCALA, Fla. (AP) - Authorities say an 8-year-old boy was handing out hundreds of dollars in fake $20 bills at an Ocala elementary school. School officials reported the boy to police on Tuesday.


However...

WASHINGTON -- The Treasury Department is putting the finishing touches to a plan designed to shore up Fannie Mae and Freddie Mac, according to people familiar with the matter, a move that would essentially result in a government takeover of the mortgage giants.

The plan is expected to involve putting the two companies into the conservatorship of their regulator, the Federal Housing Finance Agency, said several people familiar with the matter. That would mean the government would take the reins of the companies, at least temporarily.

It is also expected to involve the government injecting capital into Fannie and Freddie. That could happen gradually on a quarter-by-quarter basis, rather than in a single move, one person familiar with the matter said.


So if you make your own money, it is a serious crime. But quasi-governmental agencies lend money to high risk borrowers for years, and they get the full backing of the U.S. printing press.

This should be good times for the U.S. Dollar and the price of oil once the markets open up on Monday. But really, what's the big deal? We have plenty of paper to print more money.

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