This thing looks like socialism for the rich and capitalism for the poor.
o- 2.5 billion line of credit to the Treasury (Fannie and Freddie - F & F) is now open-ended.
o- UNLIMITED - Treasury now allowed to buy all F & F housing securities.
o- Congress no longer involved in appropriating funds (Treasuries now does).
o- National Debt Ceiling Moved up 800 Billion (buried in the bill)
o- Treasury Bills being exchanged for unwanted F & F securities. This is the asset that backs up our currency.
o- Mortgage industry workers will now have to be fingerprinted.
0- All credit card transactions will now be reported to the IRS.
YouTube - Ron Paul on the Housing Bill