Reason for Bailout; Government Desperately Needs Money
by Staff
October 8, 2008
WASHINGTON, (christiansunite.com) -- Don Swarthout, President of Christians Reviving America's Values and Patriotic Pastors has made an interesting observation about why our government wants the Bailout Bill so badly.Swarthout said, "The Federal Government's reason for wanting to pass the Bailout is they desperately need your tax money. Their strong desire for such legislation has absolutely nothing to do with your well being."
Senator Barney Frank and many other elected officials have recently said publicly that Fannie Mae and Freddie Mac were not in any trouble. Apparently, this was said to cover their tracks made when they forced Fannie Mae and Freddie Mac to make mortgage loans to low income people who were totally unable to repay these loans.
In fact, one minority who may have been the first black woman elected to the Senate, wildly applauded Fannie Mae and Freddie Mac for their wonderful management of their companies. She even made mention of the CEO's name, who also happens to be a minority, as a great leader of Fannie Mae and Freddie Mac. Now he is being criticized.
Now we know Fannie Mae and Freddie Mac were forcing the lending of mortgage loans to totally unqualified borrowers. That and the greed of lenders are the primary reasons for the problems we now see in the financial markets of America.
We are also aware of the earmarks of 20% of the profits for ACORN were part of the original Bailout Bill and that Barack Obama has been strongly tied to ACORN.
Swarthout asked, "Why was an earmark ever a part of this Bailout Bill?"
Swarthout said, "I believe the reason for the Bailout is simply a "white lie" told by President Bush and elected officials to grab a large amount of money which will allow them to save the economy for the reason the government has to do anything it can to keep their tax revenues coming in."
"Why else would President Bush seek such a controversial bill just before an election? Sadly, the American people cannot believe anything they are currently being told by our elected officials in Washington. The reason behind the Bailout is our government is spending too much and must keep tax money coming in..." Swarthout said.
