Are Fannie and Freddie The Next Bailout Candidates ???
- Thread starter seeker6591
- Start date
Maybe we need a new government department to oversee all these fuck-ups:
http://www.theonion.com/content/radio_news/new_total_fucking_mess_czar
(if the sound is off on your computer, turn it on)
http://www.theonion.com/content/radio_news/new_total_fucking_mess_czar
(if the sound is off on your computer, turn it on)
thats very comforting AXE.
at least I know 2 people in America that agree on this. LOL
in fact, this time when I go in, I will not even look at party affiliation, I will simply see who is the incumbant, and pull the opposite lever. LOL.
unfortunately , this won't work for Presidental candidates, that race is an entirely different decision.
its a great idea......but it probably violates election law.
right now , the only option is not pulling a specific lever.
if they cant figure out how to solve self-inflicted wounds in the housing and energy crises...do you really think these same governments would amend election laws to permit a NOTA voting option >>>????
right now , the only option is not pulling a specific lever.
if they cant figure out how to solve self-inflicted wounds in the housing and energy crises...do you really think these same governments would amend election laws to permit a NOTA voting option >>>????
Of course it will never happen because they want a choice to be made so we end up with another incompetent fuck-up. That's why we need a NOTA Party. All NOTA candidates PROMISE to: [a] NEVER show up for work and NEVER pass any legislation whatsoever. Just leave everything the fuck ALONE and let the citizens get on with their business with no interference. HAS to be better that what we have now.
Fannie, Freddie spent $200M to buy political influence
If you want to know how Fannie Mae and Freddie Mac have survived scandal and crisis, consider this: Over the past decade, they have spent nearly $200 million on lobbying and campaign contributions.
But the political tentacles of the mortgage giants extend far beyond their checkbooks.
Read on
http://news.yahoo.com/s/politico/20080716/pl_politico/11781
If you want to know how Fannie Mae and Freddie Mac have survived scandal and crisis, consider this: Over the past decade, they have spent nearly $200 million on lobbying and campaign contributions.
But the political tentacles of the mortgage giants extend far beyond their checkbooks.
Read on
http://news.yahoo.com/s/politico/20080716/pl_politico/11781
I've been(as in was) a mortgage banker for over 20 years and Fannie and Freddie have been getting away with murder for far longer than that...when congress set them up as Goernment Sponsored Agencies, there charters made them exempt from most regulatory oversight, so they operted with impunity, borrowing below the fed discount window and making the rules, while smaller banks were shut out creating a competitive imbalance, all in the name of helping out the homeowner, but disregarding free markets and capitalism.... Now all of the impropriety is being exposed and the tax payer will take the hit and the GSE's will get bailed out. If anybody thinks the subprime market is a mess, wait til all the conventional loans start to tank with debt ratio's over 60% and ltvs over 90%...the pmi companies are already toast...I am looking for a job, is anyone hiring...lol
I absolutely agree phil. For those thinking "we're close to the end of this", I think it's more like "we haven't even seen the start of it". Since you're an old timer like me, you know what happened last time around in the early 90's with the S&L crisis and the RTC.
i saw a video clip the other day by some professor saying Freddie was insolvent and when Fannie comes out with their 2nd quarter report (tomorrow - Friday - later today....?) he thinks they will be as well. he also expressed that he thinks the Gov't should stand behind the Bond holders, but that the shareholders shouldn't get the same guarantee, because that would be a case of the taxpayer bearing all the downside risk, but the investor getting all the upside profit. But what do you think is going to happen?
i saw a video clip the other day by some professor saying Freddie was insolvent and when Fannie comes out with their 2nd quarter report (tomorrow - Friday - later today....?) he thinks they will be as well. he also expressed that he thinks the Gov't should stand behind the Bond holders, but that the shareholders shouldn't get the same guarantee, because that would be a case of the taxpayer bearing all the downside risk, but the investor getting all the upside profit. But what do you think is going to happen?