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How does the republican party justify...?
including compensations of millions of dollars in their bail out plan to these CEOs who drove the financial market to the brink of destruction.
One of the factor that stalls the bail out plan is the disagreement of how much the plan should include compensations for these failed institutions' CEOs!
They only voited against it because teh compensation for their friends and college buddies and former campaign donors were not getting their millions for failing the US financial institutions.
3 Answers
- SarahLv 61 decade agoFavorite Answer
The news station I was watching said that the Democrats voted against bail out. The Fannie Mae's and Freddie Mac's were suppose to pay off them selves. The people have t make payments every month for their house and when the house was finally paid off then the people owing a Fannie Mae or Freddie Mac would get their bond called and were paid off. It sounded so simple and easy. I still don't understand what happened and how they could go bankrupted. When you invested into one of these two bonds, you got principle paid back when they did pay their rent or paid their house off.
These people still have to pay rent and will still pay off their houses. This should help pay off the dept. Maybe I don't understand all about the Fannie Mae's and Freddie Mac's that I thought I did. I just know that when the people pay off their loan someone will get that money and I would think it would be paid to the investor.
- John de WittLv 71 decade ago
That would be a good rant if it were true. The Republican gripe is over the risk the government is taking with the $700B. The "friends" you're talking about are almost all Democrats.
