Fannie Mae another bail out ????

A bunch

The Federal National Mortgage Association (Fannie Mae) is the nation’s largest mortgage buyer and a financial juggernaut that affects the lives of tens of millions of home buyers. It was taken over by the federal government on Sept. 8, 2008, along with Freddie Mac, as the two mortgage giants struggled with deep losses and investors lost confidence in the pair.
Federal National Mortgage Association Fannie Mae News - Company Information - The New York Times

EXACTLY.

They do not write loans...they are like a clearing house for loans.
And the truth is, they have a failed business model.
Why continue to support a failed business model?

You got my point they may not have written the loans but they accepted the loans. Which is worse?

Who is it that made money off the bad mortgages?

It was those who wrote them and then repackaged and sold them.

You didnt even know neough about this situation to realise they didnt write them.


Your opinion on the matter is not very useful as you dont understand the issue fully.

You can change that by accepting the facts and dropping the partisan bullshit line.
 
EXACTLY.

They do not write loans...they are like a clearing house for loans.
And the truth is, they have a failed business model.
Why continue to support a failed business model?

You got my point they may not have written the loans but they accepted the loans. Which is worse?

Who is it that made money off the bad mortgages?

It was those who wrote them and then repackaged and sold them.

You didnt even know neough about this situation to realise they didnt write them.


Your opinion on the matter is not very useful as you dont understand the issue fully.

You can change that by accepting the facts and dropping the partisan bullshit line.

Just to keep the facts straight...

Bigreb NEVER said they wrote loans.

YOU DID TM....YOU DID
 
Fannie and Freddie never wrote a single mortgage.

I agree.

TM was the one who asked how many bad loans did they write.....and that is when I realized she was debating a topic she knows nothing about.

And thus I told her....the fact that you asked that question shows me you have no idea of what FM and FM's roles were in the ledning industry.

Yet she is debating why they should be bailed out.

Kind of interesting.

I knew they wrote none.

That is why I asked it.

I was pointing out to a poster that they didnt understand what their job is.

To pretend I asked it for the reason you just did is nothing more than partisan crap becasue your example was trash and proven so by me.
Their job was not to accept bad loans wasn't it? Or am I missing something?
 
EXACTLY.

They do not write loans...they are like a clearing house for loans.
And the truth is, they have a failed business model.
Why continue to support a failed business model?

You got my point they may not have written the loans but they accepted the loans. Which is worse?

Who is it that made money off the bad mortgages?

It was those who wrote them and then repackaged and sold them.

You didnt even know neough about this situation to realise they didnt write them.


Your opinion on the matter is not very useful as you dont understand the issue fully.

You can change that by accepting the facts and dropping the partisan bullshit line.

just to keep the facts straight....

TM is the one who asked how many loans FM wrote.bigreb and I imnmediately told her none.

Then when she realized she was found to not know what she was debating about, she has since posted in this thread claimning it was someone else that made the false claim.

No one else did. TM is lying through her teeth.

Just to clear it up.
 
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Once you put in the proper regulations this shit will NOT happen again.


Your party fought the left to get this shit passed.

Your party claimed it would bring great things to America.

It crashed the world economy.

That is one big fucking mistake to overlook

Lets just say you are correct......

So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"

Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?

Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?

How many bad mortgages did freddy and fanny write?

I asked YOU the question because you said this.

Now tell me how F and F capitalized on the lack of regulations to create all those bad mortgages?


You implied they created them
 
Lets just say you are correct......

So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"

Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?

Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?

How many bad mortgages did freddy and fanny write?
A bunch

The Federal National Mortgage Association (Fannie Mae) is the nation’s largest mortgage buyer and a financial juggernaut that affects the lives of tens of millions of home buyers. It was taken over by the federal government on Sept. 8, 2008, along with Freddie Mac, as the two mortgage giants struggled with deep losses and investors lost confidence in the pair.
Federal National Mortgage Association Fannie Mae News - Company Information - The New York Times

yes he did say they wrote them.
 
Lets just say you are correct......

So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"

Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?

Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?

How many bad mortgages did freddy and fanny write?

I asked YOU the question because you said this.

Now tell me how F and F capitalized on the lack of regulations to create all those bad mortgages?


You implied they created them

Huh?

Exactly where did I imply anything like that at all?

They ABSOLUTELY capitalized on the lack of regulations but how does that imply they were writing mortgages?

Get off of it TM.......enough with your childish crap.

I have no interest in it.

You were naive...you got caught...and now you are trying to pin it on me.....

No interest.
 
So Fannie and Freddie capitalized on the fact that there were no proper regulations

Now tell us how F and F did that?
 
This is how the right deals with an intelligent conversation about the facts.

They lie when they are beaten with logic and facts.


This is why your ideas are historically failed
 
Fannie and Freddie never wrote a single mortgage.

I agree.

TM was the one who asked how many bad loans did they write.....and that is when I realized she was debating a topic she knows nothing about.

And thus I told her....the fact that you asked that question shows me you have no idea of what FM and FM's roles were in the ledning industry.

Yet she is debating why they should be bailed out.

Kind of interesting.

Fannie and Freddie are being shut down.

What will the right screed about then?

If they are being shut down, why are they asking for more money ?
 
I asked how many they wrote.

Your answer was a bunch

Sure all I said was a bunch and posted a link that said they were the nation’s largest mortgage buyer what exactly do you think I meant when I posted that?

I asked a direct question.

Your answer was a bunch.

Now you are trying to blame me for your answer?

I am not denying that I never said "a bunch" but what you are denying is what I posted that said they were the nation’s largest mortgage buyer. I'm talking about one thing and you are talking about something different. When I posted the link exactly what do you suggest I was talking about?
 
So Fannie and Freddie capitalized on the fact that there were no proper regulations

Now tell us how F and F did that?

they endorsed loans (for lack of a better term) without reviewing them properly...knowing dam well that the way things were set up, the liklihood of bad loans existed.

They did not invest the time and the money into the personnel required to properly endorse the loans.

That is the result of a failed business model.

Example.....(true story whether you wnat to believe it or not)....

A man purchased a home for 900K in Brooklyn NY. It was a 100% paper deal.....all based on his attestyed to income.
Prior to closing it was discovered that the man did not have the cash to cover certain cloising costs.....ie: attorney fee, recodrding cost, title insurance.
He applied to the federal government for a grant and it was approved.
Such was written into the documentation....and is found on the HUD
FM dconsidered it a viable loan to be endorsed and purchased.
If it had been properly reviewed, it would have been denied.
The property DID go into foreclosuure within 1 year of closing.

I should add...the owner of the property made a total of 3 mortgage payments.
 
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I asked a clear and direct question.

You answered.

I am not responsible for you NOT understanding a simple question and answering it wrong
 

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