Jim Rogers on Fannie Mae Freddie Mac Bailout

The legendary investor, Jim Rogers, had a few hot words to say about the Fannie Mae - Freddie Mac rescue plan announced by Ben Bernanke and Hank Paulson over the weekend.

“I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,” said Jim Rogers from his new home in Singapore in a Bloomberg interview . “So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.

These companies were going to go bankrupt if [the government agencies] hadn’t stepped in to do something, and they should’ve gone bankrupt with all of the mistakes they’ve made. What’s going to happen three years from now, when the situation’s much, much, much worse? They’re ruining what has been one of the greatest economies in the world. The