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U.S. plan to save Fannie and Freddie

Discussion in 'Business & Economics' started by The Scotsman, Jul 14, 2008.

  1. The Scotsman

    The Scotsman Well-Known Member

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    "What's important are facts - and the facts are that Fannie and Freddie are in sound situation," Dodd said on CNN's Late Edition on Sunday before the announcements by Treasury and the Fed. "They have more than adequate capital. They're in good shape."

    Interesting comment given the circumstances!

    At issue is the companies' financial condition and whether their balance sheets are strong enough to continue their business of buying and guaranteeing home mortgages.

    [​IMG]


    Good luck with your new purchases taxpayers!!
     
  2. Libsmasher

    Libsmasher New Member

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    And good luck with your Northern Rock. ;)
     
  3. The Scotsman

    The Scotsman Well-Known Member

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    ..........oh boy what a cluster**** that is!! gunna be a real headache for the future!!!

    Mind you I'd rather have Northern Rock that these two babies to nurse ;)

    Good luck with them!
     
  4. Onion Eater

    Onion Eater Member

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    "Fannie Mae and Freddie Mac play a central role in our housing finance system and must continue to do so in their current form as shareholder-owned companies," Paulson said.

    Commentators this week have talked a lot about the government's actions ammounting to socialism. However, let's get the reference straight: Paulson is actually advocating fascism, not socialism.

    I discuss this distinction in my recent post, "Fascism: Socialism with Shareholders."
     
  5. TwoFaced

    TwoFaced New Member

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    Well the bill needs to be stopped!

    Simple enough...

    Watch this video

    http://www.youtube.com/watch?v=TeWJZiJGc2s

    Watch it, rate it, contact your senator. They already railroaded this bill thru the congress this week without debate. Dont let it happen in the senate. Contact your senator today. Tell them NO on bailouts.
     
  6. UShadItComing

    UShadItComing New Member

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    When capitalism begins to rot!

    What difference does it make how they try to fix it, the tax payers will end up holding the bag anyway.

    Is anybody ready to start learning from this lesson yet. I think everyone would like to learn but it's not time yet. Give it another year or two and then we'll talk. The risk is Uhhhhh, minimal?
     
  7. Libsmasher

    Libsmasher New Member

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    You wouldn't know capitalism if it jumped up and bit your face. :D I'm sure I speak for many here when I say we're tired of your unschooled, imbecilic takes on economics. :D
     
  8. UShadItComing

    UShadItComing New Member

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    I just about own the place libs. Smile!
     
  9. BigRob

    BigRob Well-Known Member

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    I say let them continue to fight it out.

    Anyone could have predicting when sub-prime started that financials were going to take a hit. I shorted tons of them and made a killing. Then when our friend Mr. Big government got involved I bought in on the low and it went back up. Sold that for another killing.

    There are tons of deals to be had in the housing market right now too. People are full of panic and just trying to dump stuff for a lot less than it is worth. I recently finished a deal where I bought a house for 71,000 that was appraised at 98,000. People just wanted to get out and get cash. I did not do a thing to it and turned around and sold it for 95,000.

    This down cycle has been the easiest money I have ever made. When people panic there are deals to be had. Now is the time to get into the market with the prices things are sitting at. I am 24, but in 15 years I will be happy that I took advantage of the situation that was presented.
     
  10. UShadItComing

    UShadItComing New Member

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    Good post Rob, although you should maybe not brag so much about your successes. I too will keep a close eye on US real estate and when I think it has hit bottom I'll probably get into reaping the rewards from the spoils. If you buy something smart and flip it right away you will probably do o.k. but I don't think we want to sit on any US real estate at the moment. Real estate could be in such deep trouble in the US now that prices may not start up again for years. It's even a short in Canada but in only some regions.
     
  11. BigRob

    BigRob Well-Known Member

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    It does come across as a bit arrogant you are right. Was not trying to make it seem like that just showing examples that there are tons of ways to make decent money with a slowdown.

    Many stocks are at year or 5 year lows. While some of these companies are terrible and do not warrant your money, many are good deals ripe for the taking. Flipping houses is not something I would say is a good idea. I think if you can find the right deal like the one I listed and then just sell it immediately it works out, but I would not want to hold a lot of houses right now.

    The good thing with real estate is that you can sit on and wait it out, and you've got something you can use. Buying land in general could be a good move right now however. My family has always been into this ever since they got off the boat. If you buy now for cheap and hold, you can sell trees on the land, lease it for hunting, and if oil is found it will be a good day for all.

    So, the point is, even when the economy slows down, look for good deals out there, because there are tons of them to be had. Every time someone sells a stock at such a low price there is someone else buying it. The ones buying are the ones 10 years from now who are glad they did.
     
  12. UShadItComing

    UShadItComing New Member

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    In general Rob, it's not a good deal to buy real estate when the price continues to decline, as we saw on the news yesterday. You would do better trying to judge when it hits bottom and that is not easy to get exactly right but with real estate it's not all that hard to be more or less right. There will be lots of indicators when the time comes.
     
  13. BigRob

    BigRob Well-Known Member

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    This depends on the market, some markets are booming right now.


    I agree, which is why I only did the one because it was such a good deal. I've been pouring money into stocks instead.
     
  14. UShadItComing

    UShadItComing New Member

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    My personal preference is to stay the hell away from most stocks at the moment and just sit tight on my real estate investments. However I am at the low risk, low volatility stage of life. And that includes shorts. I can personally handle the bullsh-t and manipulation in the real estate market but I don't mind admitting that I'm a little guy elsewhere. If you don't have the money to manipulate the market then you're on the negative side of the equation right from the start.
     
  15. Libsmasher

    Libsmasher New Member

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    You're hallucinating like a guy in a mental ward who thinks he's Napoleon. :D
     
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