First Congressman Charles Schumer D New York sent a letter to the Federal Reserve questioning the solvency of the bank Indy Mac. Schumer also sent this letter to the press which caused the run on the bank, and of cousre led to the insolvency of Indy Mac.

His actions were designed to cause a crisis within the banking system. The intent was to trash the economy and blame Bush so as to help both Obama and 100 democrats that are running for congress get elected so the democrats can have absolute power for the next four years.

To stop a crisis from developing within the entire banking system the Federal Reserve promised to back up Fannie and Freddie Mac. Even those banks are not in trouble and are in good shape, the government guarantee was needed to prevent a run on the banking system in general.

This guarantee needs to pass congress so what do the thieving Democrats do. You got it PORK! PORK! And more PORK! They know that it has to be passed before the congress goes on their summer recess so PORK and more PORK! Nancy Pelosi alone added 4 Billon yes that’s 4 Billion dollars for guess what community playgrounds.
Ya taxes need to go up to pay for more playgrounds!