Herr Bush won't veto the mortgage rescue bill

The US press is making a big deal of Herr Bush's decision not to veto the mortgage rescue bill which the houses of Congress will put on his desk for signature next week. The anal hair stylist supremo & US secretary of the Treasury Hank Paulson convinced him, he should. And why shouldn't he? It hits the rate or taxpayer in his thinning purse, to bail out Freddie Mac & Fannie Mae & bring a modicum of relief to mortgage holders on the verge of default or deliquent. The bill is steep, say, in the us$ trillions which has too many zeros for anyone to imagine? But, hey, it's an election year, and turning down a bill which the Democrats had ambiguous input, won't hurt tub boat admiral McCain's run for the Oval Office. Let's pare away some of the hype. Anal hair stylist Paulson's rescue, if rescue it be, that is, allowing Freddie Mac & Fannie Mae access to the public trough for 18 months will keep the foreign sovereign funds and investors happy since they bought these two government sponsored companies at a steep discount when the stock of theirs tanked on the market. As such, it will continue the putrefying practice of Herr Bush of making foreigners paying for the US' self indulgent life style of the blood sucking ruling class, and what's more, once Freddie Mac & Fannie Mae are sucking the public's tits, the sustaining milk of life won't be easy to turn off. Then, home owners can renegotiate terms of their mortgages with the banks...well, this is voluntary on the banks part. So, nothing makes Herr Bush's heart beat joyfully than no regulation on his rich friends and croneys and the dead weight of the rich on the public's body. But saying this won't alleviate the yet to find bottom of the subprime Ponzi meltdown. It is reported that housing prices have fallen 57 per cent, which means the house you buy today or bought tomorrow is worth less than the mortgage, and the housing situation around military bases is down 217 per cent with a corresponding high rate of foreclosures. So where does this leave us?
In brief, the long drawn out neglect on Herr Bush's watch will benefit shareholders and foreigners and may very well alleviate the hurt of some homeowners paying off mortgage, but it won't staunch the blood letting in the mortgage market. On Youtube you can see smug Herr Bush laughing it up about the drunken binge on Wall Street which brought us the subprime debacle. There he is, the dry drunk himself, chuckling and cackling like a hen who has laid a giant egg on the taxpayer. His money is safe; his property, his make believe ranch in Crawford, Texas, too. So he can joke and look down upon the poor bastards who wanted a piece of the American dream which his class of cock suckers bilked and are in the processing of ruining.