Frannie and Freddie

[olyclimber]

Holy shite, we're looking like a communist country more and more every day! I don't get it...I thought the federal government couldn't run shit...now they are better suited than the open market?

[Frikadeller]

The Government can't run it properly if someone else can make a profit on it. When it no longer turns a profit, then the Government comes along to give the private companies a bail out. Pretty sweet deal, huh?

[STP]

Chinese Government is Top Foreign Holder of Fannie Mae, Freddie Mac Bonds--$376 Billion in Chinese Agency Bond Holdings Subject to Taxpayer Bailout Proposals

 

Asian banks surge on Fannie, Freddie bailout

 

Bye Bye Banks: Freddie and Fannie Preferred Holders to Take Big Hits?

 

We are all Chinese now

 

Main Bank of China Is in Need of Capital (login with Bugmenot/Firefox)

[fear_and_greed]

Not to worry, King W. will make the correct decisions just as he has done the past 7 years.

Just because Big Bro is involved in bailing out the largest corporate failures of all time and a dozen banks have been taken over as well(WaMu is next), doesn't mean the economy isn't strong. I mean, like really, the FDIC just guaranteed your money is safe, what more do you want http://www.marketoracle.co.uk/Article6108.html. And you can always just print more money...

So what if the government owns the title to 1/2 the houses in the country with that move. Now get back to watching American Idol, eating your gruel and quit thinking.

[denalidave]

I must have money, I still have a whole box of blank checks...

[akhalteke]

The Government can't run it properly if someone else can make a profit on it. When it no longer turns a profit, then the Government comes along to give the private companies a bail out. Pretty sweet deal, huh?

 

I would agree with you except for in this case, the credit buying power of pretty much the whole nation would be pulled down long ago. I figure, best case scenario, load it up with capitol (enough to stabilize) then partition it off.

 

 

 

[akhalteke]

Not to worry, King W. will make the correct decisions just as he has done the past 7 years.

Just because Big Bro is involved in bailing out the largest corporate failures of all time and a dozen banks have been taken over as well(WaMu is next), doesn't mean the economy isn't strong. I mean, like really, the FDIC just guaranteed your money is safe, what more do you want http://www.marketoracle.co.uk/Article6108.html. And you can always just print more money...

So what if the government owns the title to 1/2 the houses in the country with that move. Now get back to watching American Idol, eating your gruel and quit thinking.

 

You are right guy! It would totally be better to be paying 28% interest on a 30-year mortgage! This isn't just for mortages either. If Fannie and Freddy were to collapse, it would get really ugly. Probably a good time to get rid of those credit cards kids.

[j_b]

Yep! 30 years of reaganite counter-revolution and propaganda for anti-regulation, small government, and the invisible hand of the free market without surprise turns out to be just a scam to privatize profits and socialize losses. The largest transfer of wealth in history from the midddle class to market speculators goes on unimpeded while the corporate talking heads distract the rabble with lapel pins, the war OF terror and other head spinning orwellian goobly gook. No jelly beans, but billions, for these queens who are certainly not on welfare. We are so fucked!

 

No, no, I am not coming out of retirement but again I wanted to witness Peter Pisspot, JayB and other cheerleaders of the great robbery again shy away from acknowledging the results of their feudal-age politics.

 

 

[Peter_Puget]

Silly ranting.....

 

Drill! Drill! Drill!

[prole]

Not just for Housing and Finance... Meet Chrysler: Part II Coming Soon: The Airline Industry

[KaskadskyjKozak]

Silly ranting.....

 

Drill! Drill! Drill!

 

I think the chant is "Drill, Baby, Drill"

[olyclimber]

that and "USA! USA! USA!" to mask the protectors

[olyclimber]

According to a prominent member of the Republican Party, Fannie and Freddie had "gotten too big and too expensive to the taxpayers." Well that explains why this needed to happen!

[Frikadeller]

According to a prominent member of the Republican Party, Fannie and Freddie had "gotten too big and too expensive to the taxpayers." Well that explains why this needed to happen!

 

 

Sometimes silly little girls say silly little things about silly topics that silly girls don't understand.

 

Too bad too... Silly girl could be/is the poster child.

[olyclimber]

6gZuG-52js0

[tvashtarkatena]

It's rumored that secret talks with Hugo Chavez are ongoing regarding future nationalization of the oil industry to control fuel prices and open up much of the U.S. to drilling through eminent domain.

 

This is so cool.

[Off_White]

No silly man, Chavez seizes private companies, when we do it we bail them out. It's really not the same thing at all.

[prole]

What do you the airlines is going to be called?

[JosephH]

"Free Market" voodoo as practiced by corporations and republicans is and has always been based on the principle of preventing and dismantling government oversight of corporations. This administration systematically gutted pretty much every cabinet agency and our entire civil service system to boot.

 

Beyond that they have successfully executed a program to dismantle States' consumer protection and oversight rights (States' Rights - surely you on the right remember those out-dated concepts...) of the banking, financial, and insurance industries. The only State oversight right that remains due to their inability to get to it in time is oversight of the insurance industry.

 

The net result? Consumers are being relentlessly screwed, industry by industry, at every turn and it will take a decade to restore even a fraction of the protections consumers once had. Likely not in this lifetime if McCain appoints two more radical right, federalist activists to SCOTUS.

 

A friend of mine who worked at FASB got his PhD in accounting doing his dissertation on the role of government oversight in business. The principle theme of the dissertation which emerged from his research?

 

'Corporations, absent appropriate government oversight, are indistinguishable from organized crime.'

 

Freddie and Fannie's management, boards, auditors, and regulators all essentially committed fraud at the behest of the administration to keep the real estate bubble propped up, which in turn kept the economy going during the 'War on Terror'. That's the danger of running large-scale private/government hybrids - they are subject to 'regulation' which instead ends up being implemented as 'policy'. And that 'policy' is always politicized to support those in power regardless of the party in control. In this case the fraud wasn't even hidden but was entirely out in the open.

 

Freddie, Fannie Scam Hidden in Broad Daylight

 

[Hugh Conway]

Holy shite, we're looking like a communist country more and more every day! I don't get it...I thought the federal government couldn't run shit...now they are better suited than the open market?

 

I'd say we are looking more like a post-Communist country. Enriching the oligarchs on the backs of everyone else.

[Hugh Conway]

I think the chant is "Drill, Baby, Drill"

 

Explains her 5 children......... (and the grandchild)

[John Frieh]

What are you guys complaining about? 30 year fixed dropped to 5.5% today! Hello 10.31 exchange

[tvashtarkatena]

John, are you indulging in Spray, now that it's the Last Day of the Universe?

[prole]

"Free Market" voodoo as practiced by corporations and republicans is and has always been based on the principle of preventing and dismantling government oversight of corporations. This administration systematically gutted pretty much every cabinet agency and our entire civil service system to boot.

 

Beyond that they have successfully executed a program to dismantle States' consumer protection and oversight rights (States' Rights - surely you on the right remember those out-dated concepts...) of the banking, financial, and insurance industries. The only State oversight right that remains due to their inability to get to it in time is oversight of the insurance industry.

 

The net result? Consumers are being relentlessly screwed, industry by industry, at every turn and it will take a decade to restore even a fraction of the protections consumers once had. Likely not in this lifetime if McCain appoints two radical right, federalist activists to SCOTUS.

 

A friend of my who worked at FASB got his PhD in accounting doing his dissertation on the role of government oversight in business. The principle theme of the dissertation which emerged from his research?

 

'Corporations, absent appropriate government oversight, are indistinguishable from organized crime.'

 

Freddie and Fannie's management, boards, auditors, and regulators all essentially committed fraud at the behest of the administration to keep the real estate bubble propped up, which in turn kept the economy going during the 'War on Terror'. That's the danger of running large-scale private/government hybrids - they are subject to 'regulation' which instead ends up being implemented as 'policy'. And that 'policy' is always politicized to support those in power regardless of the party in control. In this case the fraud wasn't even hidden but was entirely out in the open.

 

Freddie, Fannie Scam Hidden in Broad Daylight

 

Nice analysis. Now STFU and have a Mooseburger.

[Hugh Conway]

What are you guys complaining about? 30 year fixed dropped to 5.5% today!

 

that's for a US mortgage - can't get one in Argentina