Jim Rogers on Fannie Mae and Freddie Mac bailout

In an interview, investor Jim Rogers who now lives in Singapore called the bailout of Fannie and Freddie as "socialism for the rich".

According to Rogers:

"This is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents," Rogers said. "I’m not quite sure why I or anybody else should be paying for this."

Warren Buffet however had a differing opinion. The Oracle of Omaha praised the plan as a wise move for Treasury Secretary.