U.S. plan to save Fannie and Freddie

[UShadItComing]

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

All right then, can we agree that I have the most unpopular name now?

Is that why you feel threatened?

 

[Libsmasher]

All right then, can we agree that I have the most unpopular name now?

Is that why you feel threatened?

CANADIANS threatening anyone???? How would you do that? Throw maple syrup bottles at them? Get your sled dogs to bark angrily?
Poke at them with your frost bitten fingers?? Threaten to poison them with fake prescription medicine from India???

 

[Dr.Who]

All right then, can we agree that I have the most unpopular name now?

Is that why you feel threatened?

Can't say that I like it. For a while I kept wondering what a UShad was. Then when I got over my personal idiocy I noticed how incredibly insulting it is for a person to choose to say such a thing and include it in their name.

 

[foggedinn]

Recently watched an analysis of our probable liability because of the recent explicit backing of Fannie and Freddy debt by our govt.

Probable losses are expected to be approx. a trillion dollars a year for the next 5-7 years.

So much for deficit reduction!

 

[The Scotsman]

Well congrats guys I've just read that you've just bought $5 trillion of bum mortgages.... welcome to the world of socialism!

 

[BigRob]

Well congrats guys I've just read that you've just bought $5 trillion of bum mortgages.... welcome to the world of socialism!

Has not happened yet. Added to that, they do not hold 5 trillion in bum mortgages, just in total mortgages.

Although, a bail out is set to occur sadly, it is still not official. But this bailout will be different, stock holders will not go bankrupt with the company, given that banks are the biggest shareholders.

 

[top gun]

They just this morning did a big segment on this huge government bailout on this morning's news.

According to the financial annalist there she said that stock holders will loose their shirts & shorts (that's her quote).

It just once again shows how the whole Republican mindset (see Phil Graham & the lot) were so anti regulation, let businesses do anything they want, that it's created this steady series of collapses. First it was energy companies and the now infamous Republican pushed "ENRON LOOPHOLE".

Then we had the sub-prime loans & predatory lending scandals with business "policing itself".

And that all led to the Real Estate market tanking with home foreclosures at an all time high and home values dropping like a rock!

For Republican's to say they can fix this when they were totally in charge of how it happened when it happened is a joke...

Not a very funny one though I'll grant you!

 

[BigRob]

They just this morning did a big segment on this huge government bailout on this morning's news.

According to the financial annalist there she said that stock holders will loose their shirts & shorts (that's her quote).

The small holder perhaps will, but when the biggest holders are banks and other financial institutions it does the banking system no good to bail out one company just to tank the other financial institutions that you then must bail out again.

It just once again shows how the whole Republican mindset (see Phil Graham & the lot) were so anti regulation, let businesses do anything they want, that it's created this steady series of collapses. First it was energy companies and the now infamous Republican pushed "ENRON LOOPHOLE".

Then we had the sub-prime loans & predatory lending scandals with business "policing itself".

Now hold on here. FDR basically set up these banks and regulated them as such. Banking regulation is nothing new, and certainly cannot be blamed on the Republicans alone...

Add to that, it was Carter who passed, and then Clinton who expanded, the regulation that banks will be rated based on their giving loans to people who basically had no business getting one.

Now I am sure they thought the housing bubble would go on forever, but I cannot imagine anyone else who actually thought about it did. Big shock that many of these loans tanked which dragged the housing and financial sector with them.

For Republican's to say they can fix this when they were totally in charge of how it happened when it happened is a joke...

Not a very funny one though I'll grant you!

Republicans were in charge when FDR laid the groundwork for Fannie and Freddie? Remember if not for deregulation these would still be government enterprises.

Were Republicans also in charge when the Fair Housing Acts were established? That opened the door for people who have no business getting a loan getting a loan.

And further, while it might happen soon, no bailout has of yet occurred.

 

[top gun]

Bi

gRob;60044]The small holder perhaps will, but when the biggest holders are banks and other financial institutions it does the banking system no good to bail out one company just to tank the other financial institutions that you then must bail out again.

I'm just repeating EXACTLY what NBC's financhal expert that was on the news this morning said.

Quote: Stock Holders will loose their shirts... & shorts!

Now hold on here. FDR basically set up these banks and regulated them as such. Banking regulation is nothing new, and certainly cannot be blamed on the Republicans alone...

FDR may have "basically" set up the banks... But banking regulation has been slashed under the Republicans.

And further, while it might happen soon, no bailout has of yet occurred.

Again... I'm just repeating EXACTLY what I myself heard this very morning over my coffee.

Quote: It's just been reported that the government is going to take over Fannie Mae and Freddie Mac. This will be one of the biggest business bailouts ever.

And then the financial analyst went on to explain it in depth. That's all I know. Maybe it will be completely different tomorrow. I'll write back if it is... but they seemed positive that it was really happening.

 

[Not Amused]

All this actually does is paste over the cracks on a temporary basis.

Bailing them out, will only prolong this depression (and contrary to the opinions of economists and others, I personally feel we are in the beginnings of a Depression, not a recession) and I think it is going to be quite awful for many to be honest.

The natural outcome should be allowed to progress regardless, only then can our economies be rebuilt and grow on something other than thin air.

 

[The Scotsman]

Officials were concerned mounting losses at the two companies, which own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt, was sapping their vitality and threatening to undermine them at a time other sources of housing finance have largely run dry.

"Our economy and our markets will not recover until the bulk of this housing correction is behind us," U.S. Treasury Secretary Henry Paulson said at a news conference. "Fannie Mae and Freddie Mac are critical to turning the corner on housing."

When the British Government took over Northern Rock they tried to convince the electorate that in the long run it would be a good thing. All the income that would be repaid to the treasury would exceed the amount the Tax Payer paid to underwriter the losses of the Bank!

..............m'kay.

Well, good luck with your negative equity property base.