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Old 09-16-2008, 10:54 AM   #10
Arne
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A former UBS lobbyist working for John McCain and giving him the education he once said he'd still need is in my opinion more of an influence on the Fanny Mae and Freddy Mac situation then the direct influence by Fanny Mae and Freddy Mac people. Fanny Mae and Freddy Mac managers will get the money their contract garantees them and they've been fired. They don't have to work, still get the money.

UBS, however profits by making the Americans taxpayer step in to socialize the losses they would've made if Fanny Mae and Freddy Mac were allowed to fail. Billions in mortgadge backed securities that were secured by Fanny and Freddy would've been lost. Fanny Mae and Freddy Mac managers wouldn't have lost their garanteed money.
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