Doctor Housing Bubble 04/10/08

[Crewleader]

Winston Smith and the Bailouts in Oceania: Lessons from the Great Depression Part VII.

Let us layout something from the beginning. Bailouts are already occurring. The mainstream media for the most part still seems to be echoing a sentiment that bailouts haven’t occured. The bailouts have already occurred in the past tense. Bear Stearns being injected and propped up via a proxy JP Morgan/Chase was a bailout. Of course, the public was told and fed a line that if Bear wasn’t propped up the entire edifice of Western Civilization would come careening into the sea. The fact that the Fed is now exchanging Treasurys for zombified mortgage backed securities is an absolute bailout. Have we already forgotten the Hope Now Alliance or the FHA Secure programs?

Keep in mind the current administration has perfected the ministry of truth language. In August of 2007, President Bush had this to say about bailing out homeowners:

“Obviously anybody who loses their home is somebody with whom we must show an enormous empathy,” Bush said. Asked whether he would champion a government bailout, Bush responded: “If you mean direct grants to homeowners, the answer would be `No, I don’t support that.’”

http://www.doctorhousingbubble.com/winston-smith-and-the-bailouts-in-oceania-lessons-from-the-great-depression-part-vii/