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Sam Chan - I am not a photographer. Just a photo enthusiast and for the last three year, my blog is skewing toward photo blog. Thanks for stopping-by and please do come again...

On The Fannie Mae & Freddic Mac Bailout

Freddie_Mac Fannie_mae_logo

During the 1997 asian financial crisis, the language from the WEST (Don Corleone(U.S.) and the rest of Europe) were…let the inefficient and non-transparent company to close down. No practice of cronyism…

Now, forward to 2008, the WEST applauded the bailout of Fannie Mae & Freddie Mac, which to my point of view was not efficiently run. We should let it go down…just like during the 1997.

Why the double standard???

How can we trust what Don Corleone(the U.S.) said in the future? Didn’t Don Corleone said his word is as good as gold? Heehehhee….

I am thinking aloud….

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