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Those lousy Greeks/Europeans, how can they spend so much money propping up their failed economy and jobless cretins and mountains of bad debt? Don't they have capitalist scruples or whatever? Oh yeah, and America's government-run mortgage hander-outer, Fannie Mae, needs another $8.4 billion to get through next week maybe, things have been sort of tough, what with the $11.5 billion loss just in the first quarter of this year.


The Wall Street Journal reports:

Fannie's losses reflected continuing weakness in the housing market and would have been worse without accounting changes that reduced its deficit. The quarterly loss was an improvement from the $23.5 billion loss for the year-ago quarter and marked the 11th consecutive quarterly loss for the Washington-based firm.

The company has now racked up losses of nearly $145 billion, or nearly double its profits for the previous 35 years.

Oh but that's okay, at least the other big government backer of home mortgages is okay, right? Uhh:

Freddie Mac, the bailed-out mortgage-finance giant, reported Wednesday that it continues to lose money and needs an additional $10.6 billion in assistance from U.S. taxpayers.

But mortgage delinquencies through Fannie Mae fell by a tenth of a percent, so that's good? Besides, real estate always goes up! As terrible as this all sounds, Fannie and Freddie are basically holding up the entire American Mortgage market right now -- 96.5% of all new mortgages in this doomed nation are either held or guaranteed by the two government-run giants.

As bad as the situation may be, without government conservatorship, Fannie and Freddie could've gone down like Lehman Brothers. It is difficult to imagine the chaos and horror that would follow ... and that's why Dangerous Lunatic John McCain just introduced legislation to just shut the danged things down. [Washington Post/Wall Street Journal/Washington Post]

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ProPublica released a recording yesterday of children in a Customs and Border Protection (CBP) detention facility crying for their parents after being subjected to the tender mercies of the New Cruelty.

The children are distraught, sobbing, inconsolable (not that the Border Patrol agents seem especially interested in consoling them). As ProPublica notes, "They scream 'Mami' and 'Papá' over and over again, as if those are the only words they know." You do not want to listen. But maybe you must.


One Border Patrol agent makes a very amusing joke as he hears all the children crying: "Well, we have an orchestra here [...] What's missing is a conductor."

Can anyone doubt that SS guards made similar jokes as children were unloaded from boxcars?

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Mark Sanford is all mopey because he just lost his cushy Congress job after Donald Trump said mean things about him on Twitter. This was not the expected ending of a distinguished career, which involved lying to his constituents as governor about his whereabouts because he was conducting a clandestine affair.

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