Obama’s August Surprise
No, it won’t be a fake terrorist attack or anything like that. It’s all speculation anyway, but the rumor is that Obama is planning an $800 billion Main Street bailout.
If the rumor is true, Obama will be ordering Fannie Mae and Freddie Mac to forgive some of the millions of underwater home mortgages. The Treasury Department denies this. The linked article asks:
“Will Obama really drop this stunning political and economic bombshell so close to November elections, and if he does, who will it help politically?”
In case there’s any truth to this rumor: Would a huge Main Street bailout help the economy? Would it help the Democrats politically? And is it the right thing to do?
What say you?