Freddie Mac to ask for another $10 billion bailout funds

[Yurt]

Freddie Mac to ask for another $10 billion bailout funds

The second-largest provider of U.S. residential mortgage funds, Freddie Mac (FRE.N), is still not completely out of the woods. Having been able to keep its head above the water in tough economic conditions primarily on the basis of bailout funds, Freddie Mac asked for a further $10.6 billion in federal aid.

Freddie Mac to ask for another $10 billion bailout funds | The Money Times

wtf...how many billions is it going to take?

Estimates of the Congressional Budget Office reveal that the total strain on taxpayers for bailing out Freddie Mac and Fannie Mae will be to the tune of $389 billion through 2019.

what the hell is wrong with our leadership?

 

[Toro]

Pretty sad.

 

[Yurt]

Pretty sad.

has it become that we can't let them fail now becuase we've given them so many billions?

 

[Oddball]

what the hell is wrong with our leadership?

There is none, that's what.

 

[Toro]

Pretty sad.

has it become that we can't let them fail now becuase we've given them so many billions?

I think its because the government wants to support the mortgage market.

 

[Oddball]

Bull...It's because they don't want to admit that Fannie/Freddie were and continue to be terrible ideas.

Gubmint is like that.

 

[The T]

Pretty sad.

has it become that we can't let them fail now becuase we've given them so many billions?

I think its because the government wants to support the mortgage market.

Even though they should keep their noses OUT of it?

 

[The T]

Pretty sad.

has it become that we can't let them fail now becuase we've given them so many billions?

"Too big to Fail". I say let them FAIL. Let the onus be upon the heads of the Government for the failure.

 

[Yurt]

Pretty sad.

has it become that we can't let them fail now becuase we've given them so many billions?

I think its because the government wants to support the mortgage market.

by supporting two so called corporations that continue to fail? how does that support the mortgage market?

 

[Yurt]

what the hell is wrong with our leadership?

There is none, that's what.

true

we have a potus who claimed he has more experience than a mayor and a governor because he has managed his multimillion dollar campaign

 

[The T]

what the hell is wrong with our leadership?

There is none, that's what.

true

we have a potus who claimed he has more experience than a mayor and a governor because he has managed his multimillion dollar campaign

Say what exactly? Someone whom has never held a job at a 7-Eleven? K-Mart? Even not a Wally-World greeter[err...umm WALMART]?

I call him on this noise.

 

[The T]

has it become that we can't let them fail now becuase we've given them so many billions?

I think its because the government wants to support the mortgage market.

by supporting two so called corporations that continue to fail? how does that support the mortgage market?

All it facilitates is throwing more money into a growing vortex of DEBT we cannot cover...and debt the American people shouldn't be expected to shoulder.

 

[Samson]

Pretty sad.

Once again: what our leaders wish was true meets reality.


I just hope these guys don't get their hands around the heathca.......

 

[Toro]

has it become that we can't let them fail now becuase we've given them so many billions?

I think its because the government wants to support the mortgage market.

by supporting two so called corporations that continue to fail? how does that support the mortgage market?

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

 

[Oddball]

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

One word: Liquidate.

 

[The T]

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

One word: Liquidate.

Yep. The Taxpayers are already ON the hook for their folly and those that contributed to the LIE namely Raines, Fwank, Dodd...and THEY (All involved) should be held culpable for the failure...and prosecuted for the lie perpetrated upon the taxpayers.

 

[Samson]

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

One word: Liquidate.

Why?

Can't we just print a $10 B bill?

We could put Obama's picture on it.

 

[Yurt]

I think its because the government wants to support the mortgage market.

by supporting two so called corporations that continue to fail? how does that support the mortgage market?

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

if they are the mortgage market, then apparently we need a socialist government. because the mortgage market (90% according to you) can't survive without taxpayer/government funds.

you say it has to stop...where is your magic marker line?

 

[Vast LWC]

The thing about this is, as I understand it, is that the government is basically using Fannie and Freddie as a place for everyone to dump their bad mortgages.

Fannie and Freddie are taking the hit for the rest of the industry and propping up the battered mortgage market.

UPDATE 1-Fannie Mae mortgage holdings up after loan buyouts | Reuters

Thus the 10 billion dollars is not really a Freddie Mac bailout, it is a mortgage bailout.

Feel free to point out if I am misunderstanding this, I'm pretty sure this is the jist of it.

 

[Toro]

by supporting two so called corporations that continue to fail? how does that support the mortgage market?

Because right now, Fannie and Freddie are the mortgage market. Something like 90% of all mortgages are, or at least were, being underwritten by the GSEs. If they cease to function, bye-bye housing market, and we get another downward spiral in the economy.

Or at least that's the theory.

At some point, it has to stop.

if they are the mortgage market, then apparently we need a socialist government. because the mortgage market (90% according to you) can't survive without taxpayer/government funds.

you say it has to stop...where is your magic marker line?

It is not according to me. Something like 90% of all the mortgages over the past year have been underwritten by the GSEs. Full-stop. Much of the private market simply stopped lending in the mortgage market. Banks were happier borrowing at 0% from the Fed and lending it back to the Treasury at 3% than lending mortgages.

I don't know where it ends, but I do know that the government is trashing the value of the dollar.