Senator Dodd says the fed has the autority to set up a debt fund. As if they haven't ruined their balance sheet ennough, you have a senator asking to take on more junk.
``Debating whether or not you're going to set up some new agency or bureaucracy in government is a nice point, but I don't think we have the luxury of waiting another year,'' Dodd said.
It's great. Instead of telling the fed to stop overstepping authority, he is telling them to do this without congress approval.
``But candidly, I want to do a lot more than 400,000 units,'' he said. ``And we have the opportunity to do more than that.''
And if that's not ennough, he wants more housing help. Where are you going to get the money? Stop robbing our future generations for a quick fix today. Let the free markets do it's work. In the long run, it's going to be better than trying to rescue each and everyone.
BTW, what about those who were smart and kept renting instead of buying a house on a interest only. I don't see him talking about the prudent.
Here is another example of how screwed up our politics are. Here is Sarah Palin saying there wont be a bailout for AIG. Of course, after the bailout, Mccain softened his position. We don't have to wait for the candidates to get into the office before they flip-flop - they do it in matter of days.
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