Fannie Mae seeks $8.4B in aid after 1Q loss

Discussion in 'Politics' started by KMAN, May 10, 2010.

  1. KMAN
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    KMAN Senior Member

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  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    is fannie mae and freddie mac STILL buying up the bad MBS's of Goldman, and bank of America and the other biggies? If so, WHY, when they know they are toxic? Is this part of the big bank bail outs, making fannie and freddie buy up these toxic assets of others? I don't get what is going on here?
     
  3. Conspiracist
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    Conspiracist Snuggle weather rocks!

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    Exactly... I don't think anyone does.
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    Cloward-Piven strategy - Wikipedia, the free encyclopedia
     
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  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    1. See how badly we got fucked by TARP?

    2. I thought Obama made all these great "investments" in Citi and GM and all that TARP money was coming back?
     
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  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Sadly 100% correct
     
  7. Care4all
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    Care4all Warrior Princess Supporting Member

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    you may be right....it appears that fannie and freddie are buying up the Citi bank, etc, toxic mortgage back securities...hiding the true performance of Citi bank and others, by putting their bad debt, on to fannie and freddie while Citi and others claim great performances?
     
  8. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Public losses and private profits. It's great to be politically connected
     
  9. blastoff
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    blastoff Undocumented Reg. User

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    And the Dimocrats have done what about F&F in their Financial Reform bill?

    Yeah, and then when Republicans don't support it because Fan and Fred are left to cause us still more financial harm in the future they'll be accused of being the party of no, again.

    Dims...phony bastards!
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The government required Fannie Mae and Freddie Mac to have 55% of their portfolios consist of mortgages held by people who earn below the median income. Given the high unemployment combined with the crash in real estate prices, much of the tract home and condo build out in this below 55% category is underwater. Even people who can afford to make payments have an incentive to walk away. It's going to get uglier.

    And yet, Financial Reform doesn't include FM/FM. Why is that? In addition to the Cloward-Piven angle (quite accurate), FM/FM are big patronage troughs. The Dems hand out high paying jobs to their cronies (i.e. Jamie Gorelick), who are paid excessive compensation for no risk government sponsored jobs.
     

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