Hard-Core Capitali$t Says NATIONALIZE Mortgage-Industry!!!

[Mr. Shaman]

"Bill Gross, who runs the world’s bigge$t bond fund at Pacific Investment Management Co., said the U.S. should consider “full nationalization” of the mortgage- finance system as the Obama administration plots the revival of a market that was at the center of the 2008 credit crisis.

“To suggest that there’s a large place for private financing in the future of housing finance is unrealistic,” Gross said today at a U.S. Treasury Department conference in Washington. “Government is part of our future. We need a government balance sheet. To suggest that the private market come back in is simply impractical. It won’t work.”

​

 

[CrusaderFrank]

LOL

Government already controls 100% of the mortgage market, looky how great it's going!

 

[Truthmatters]

Good regulations and good inforcement is all we need.

 

[johnrocks]

If he wants nationalization, he's not a hard core capitalist, that's an oxy moron. He may be a corporatist but hard core capitalist, impossible with that attitude.

 

[Mr. Shaman]

LOL

Government already controls 100% of the mortgage market.....

....Until Phil Gramm got creative.....

[ame=http://www.youtube.com/watch?v=f2iHksmF7m4]YouTube - American Casino: Greenspan's "flaw in the model"[/ame]​

 

[Mr. Shaman]

If he wants nationalization, he's not a hard core capitalist, that's an oxy moron. He may be a corporatist but hard core capitalist, impossible with that attitude.

Then, it's always possible he's more a REALIST (due to his experience, in the field).....at least, MOREso than the average Teabagger, who insists on being told what they want to hear.....like all o' those easy-answers George Jr. had.....for ALL problems!


​

 

[johnrocks]

If he wants nationalization, he's not a hard core capitalist, that's an oxy moron. He may be a corporatist but hard core capitalist, impossible with that attitude.

Then, it's always possible he's more a REALIST (due to his experience, in the field).....at least, MOREso than the average Teabagger, who insists on being told what they want to hear.....like all o' those easy-answers George Jr. had.....for ALL problems!


​

George Jr. can kiss my ass. I don't fit into the neat little two party mindset package.

 

[boedicca]

Cronyism is not Capitalism.

PIMCO invests heavily in Treasuries, and manages PENSION Funds for government employees. It's a huge firm on the level of the ones that are derisked by U.S. taxpayers via our current Cronyism system.

 

[kyzr]

Cronyism is not Capitalism.

PIMCO invests heavily in Treasuries, and manages PENSION Funds for government employees. It's a huge firm on the level of the ones that are derisked by U.S. taxpayers via our current Cronyism system.

Even PIMCO might fail if the new "bond bubble" busts. Besides, I hope that ALL government employees, especially Congress gets into the SS/Medicare systems with the rest of us "working class poor".

 

[The Infidel]

*yawn*​

 

[boedicca]

Congress is headed in the opposite direction. The Casey Bill will put taxpayers on the hook to bail out (largely union) private group pension funds. And the rumblings in Congress for "Guaranteed Retirement Accounts" are a maneuver to nationalize 401Ks and IRAs to further benefit union pension plans.

 

[Mr. Shaman]

This oughta break "conservatives'" hearts!!

They might end-up AGREEING with Barney Frank!!! (...Or, at the very-least, try to take-credit for the idea. )​

"Fannie Mae and Freddie Mac should be abolished rather than reformed as part of the Obama administration's planned overhaul of the government's role in housing finance, Rep. Barney Frank, chairman of the House Financial Services committee, said on Tuesday.

"They should be abolished," Frank said in an interview on Fox Business, when asked whether the mortgage giants should be elements in housing market reform. "The only question is what do you put in their place," Frank said.

The Federal Housing Administration should be fully self-financing and Freddie and Fannie should be replaced with a new mechanism to help subsidize housing, Frank said in the interview.

"There is no more hybrid private-public," the Massachusetts Democrat suggested. "If we want to subsidize housing then we could do it upfront and let the budget be clear about that."

Fannie Mae and Freddie Mac were government-sponsored enterprises, privately owned companies supported by the government, until the Bush administration took control of the companies in 2008 to save them from collapse.

Frank said that he does believe the federal government should have a role in building affordable rental housing but thinks money should go toward projects by private developers.

On the question of whether the government should still provide some guarantees in the mortgage market, Frank said: "If we have it (guarantees), it has to be self-financed by the people who are benefiting."

 

[Mr. Shaman]

Congress is headed in the opposite direction. The Casey Bill will put taxpayers on the hook to bail out (largely union) private group pension funds. And the rumblings in Congress for "Guaranteed Retirement Accounts" are a maneuver to nationalize 401Ks and IRAs to further benefit union pension plans.

....And, you expect everyone to accept your (detail-free) opinion, on that, right? ​

 

[johnrocks]

Only if Frank had stopped at "They should be abolished".

 

[Avorysuds]

Look, a LOL thread!