Freddie Mac Earnings

Freddie Mac has released their earnings and its a lot worse than expected. Three times worse than expected. Fannie Mae will be releasing earnings later in the week and those are expected to be really bad too. This is just another sign of exactly how bad this economy is. The mortgage crisis along with the high cost of gas is really putting pressure on all segments of the economy and no one seems to have a plan to fix it.

Congress goes on vacation well the dumocrats in congress while the republicans stage a protest and make the dumocrats( no its not misspelled) look like they don’t care. It does not help the dumocrats cause for winning in November to have Nancy Pelosi acting like an idiot and not allowing even a resemblance of a vote on energy polices. This just shows how out of touch our elected officials are. The dumocrats offered all types of promises when they grabbed majority of the house two years ago, but up to this point have done nothing. And you can’t blame Bush, if they had presented decent legislation which was vetoed then maybe you could give Bush some blame, but the truth is they have not done anything and the fact that Pelosi would not even allow a vote may signal the end of our society.

The Dumocrats have already chosen not elected their nominee and now they won’t to do away with Congress. I guess the government set up by our fore fathers is about to get thrown out with the bath water in the name of PC.  Its time for Congress to get back to work and pass some legislation to fix the issues that Freddie Mac and Fannie Mae face as well as the entire banking community. They also need to get back to work and lift the bans on domestic drilling so we can bring down the price of oil and give the American workers a break.

Welcome back!