CNN: Harvard Economist Says Current Mess Due to Fannie and Freddie

Discussion in 'Congress' started by The Paperboy, Sep 30, 2008.

  1. The Paperboy
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    The Paperboy Times Square

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    Congress has balked at the Bush administration's proposed $700 billion bailout of Wall Street. Under this plan, the Treasury would have bought the "troubled assets" of financial institutions in an attempt to avoid economic meltdown.

    This bailout was a terrible idea. Here's why.

    Full Story here
     
  2. editec
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    editec Mr. Forgot-it-All

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    It all sounds so sensible doesn't it?

    But here's the LIE behind this blather...

    Fannie Mae was a PRIVATE insitution, folks. Get it? Private sector? As in NOT the government?

    Those pesky facts sure are biased against Republicans loyalists who just have to insist that government is the problem, aren't they?
     
    Last edited: Sep 30, 2008
  3. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    FM/FM were making money until the government pressured them into making subprime loans.

    New York Times - Clinton Adminstration Pressured Fannie Mae - Topix
    You're right, facts are pesky things.
     
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  4. Jeepers
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    Jeepers Senior Member

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    You idiots bore me... read on bush's ownership society at whitehouse.gov... Bush was touting a chicken in every pot and a pot in everyones personal home... this problem is greater than either clinton of FM2.
    But while your on this topic.. how many millions have Macs campaign advisors taken from both companies....
     
  5. HoleInTheVoid
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    HoleInTheVoid Active Member

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    About Fannie Mae

    Privately invested, gov't guaranteed.
     
  6. jschuck12001
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    jschuck12001 Senior Member

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    Weak comeback, The mortgage industry is government regulated. People feel that the regulations were too lenient.
     
  7. The Paperboy
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    The Paperboy Times Square

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    Wikipedia: The government sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress.

    Together, the three mortgage finance GSEs (Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks) have several trillion dollars of on-balance sheet assets.

    Link here

    I wouldn't mind my "private business" being government sponsored. :D
     
  8. The Paperboy
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    The Paperboy Times Square

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    About 125 million less than Johnson and Raines, two of Obama's advisors, one of whom headed his VP search. :tongue:
     

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