[luckyshot]

what does everybody think about this fannie mae and freddie mac thing?
is it as BAD as i think it is for US "little people"

 

[Brother Buck]

Damn right it's bad.
They are both Federally sponsored to begin with = BAD.
Then when whey fail the Fuds send in more Fuds to cover up the Fuderal mess they have made.
Yeah!
Higher taxes for everyone to cover the stupidity of the few....once again.

 

[mgd_only]

hey little people you will now refer to your government as Master and your social security number is now your Registered legal name slave. welcome to the machine.

 

[Big_A]

forget the ression this is the begining of the depression. this is about the worst thing that could have happend for anyone that beleives in free markets !!!!!

 

[mgd_only]

not broke yet? still pay taxes? yes? you will be!

 

[MarkfromMD]

just wait until a couple more banks fail and people start scrambling to withdraw their money because theyve lost faith...

 

[Dwind]

not as long as the news whitewash it into making it sound not quite as bad as it is

 

[Sweeper]

"IF" the final tally is the 800 billion as advertised,every household in the US just instantly picked up an additional $14,000.00 in tax obligation. The actual amount we could be held up for may be as much as 2.5 Trillion. Thats a million,million. X2...and a half.:thumb::xeye::xeye::xeye:

 

[jaypro]

This was the next shoe to drop. Lehmen Brothers should be just around the corner... wonder if they to will be 'saved' by the Federal Reserve Corporation.

 

[Sweeper]

What about the automakers and the airlines? Whats next? Can you say socialism class?

 

[mgd_only]

welcome comrades to the U.S.S.R. the United Socialist States Republik
with the incorperation of fannie and freddie we have decided that were three quarters of the way to socialism lets not half step it gets go and rename the country and make everything state owned as well what the hail right wait do i have my socialist and communist confused again?

 

[Dwind]

and there was no coup et tat needed to boot. Well not a violent one anyway

 

[danpauselius]

The government had to make a choice. Either they bailed out these two companies and stuck it to the tax payers or they choose to flush the economy right now. Obviously they've chosen to buy some time. Had they let it go, China and Russia would have taken economic recourse. Other nations could have added their losses in Fannie and Freddie to the general debt owed to them by the US government. In addition, they could freeze lending to the US, immediately placing the US into an economic tailspin.

 

[mgd_only]

and this is what we get for having a capitalistic society. i don't care who i sell down the river as long as i get paid

 

[mikey007]

what does everybody think about this fannie mae and freddie mac thing?
is it as BAD as i think it is for US "little people"

Yes,it is as bad as you think it is if not worst.The goverment now has contol over the largest lenders in the county.And the best part is we the tax payers get to pay all those bad loans off with our tax dollars.And if we run out of money it is ok.Our very good friends from China will just loan the poor old U.S.A. a couple of billion to hold us over.Of course there will be little intrest to be payed on that money.LOL

 

[MarkfromMD]

spend your money while it is still worth something lol

 

[luckyshot]

yeah.. i'm just stunned at the stupidity of the federal government.. makes me wonder what is coming next!

 

[mongoose]

whats coming next is a S load of new debt. they are not willing to let go of it and the control it will give govt, govt agencies never die and now that they have taken control of it it will not be given up --- no matter what it costs us.private sector
the private sector issuing home loans "is basically wishful thinking." --now who is the socialist here?

http://biz.yahoo.com/ap/080909/mortgage_giants_what_s_next.html
Sen. Richard C. Shelby of Alabama, the senior Banking Committee Republican, said they should be downsized and spun off into entirely private companies.

"I'm skeptical that we'll be able to go totally privatized. I think we will have to maintain some kind of public role," Barney Frank said.

Dodd didn't address the idea of a mortgage finance utility, but he said the notion that the private sector could play that role "is basically wishful thinking." He indicated he would fight to preserve some sort of institution that promotes homeownership and affordable mortgage credit, "whether it's them or some other replacement entity."

 

[Jiesen]

Depression here we come?

 

[Sweeper]

Depression here we come?

IMO, I am praying its JUST a depression.