Now I know why GSE's weren't included in Financial Reform Bill

Discussion in 'Economy' started by CrusaderFrank, Jun 2, 2010.

  1. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    92,463
    Thanks Received:
    16,943
    Trophy Points:
    2,220
    Location:
    NYC
    Ratings:
    +53,587
    American Banker (you have to be a subscriber to get the article) just ran a story that Fannie, Freddie, and Ginnie at Nearly 100% Market Share of the US mortgage market!

    100%!

    Leading up to the meltdown they were at about 50%

    Obama controls the US residential mortgage market

    Now do you get it?

    Couple that with ObamaCare and we have arrived at Neo-National Socialism

    [​IMG]

    Obama: I own your mortgage and I'm your doctor. I am God's partner in matter of your Life and Death
     
    • Thank You! Thank You! x 1
  2. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    11,605
    Thanks Received:
    1,319
    Trophy Points:
    265
    Ratings:
    +4,565
    The GOP can't defeat Obama no one trusts them. Lucky for them they have an ace up their sleeves with the initials, BHO, the greatest attack ad generator in history.
     
    • Thank You! Thank You! x 1
  3. Oddball
    Offline

    Oddball Diamond Member Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,502
    Thanks Received:
    8,453
    Trophy Points:
    2,010
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,564
    [​IMG]
     
  4. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    92,463
    Thanks Received:
    16,943
    Trophy Points:
    2,220
    Location:
    NYC
    Ratings:
    +53,587
    So, the Federal Government totally controls the residential mortgage market...yawn.

    Unfuckingbelieveable
     
  5. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    64,426
    Thanks Received:
    13,105
    Trophy Points:
    2,180
    Location:
    Surfing the Oceans of Liquidity
    Ratings:
    +44,260
    Why is this a surprise? Ginnie Mae and the GSEs have been at least 90% of the market since Lehman collapsed.

    Banks aren't lending anything. They are hoarding money. They'd rather buy US T-bonds earning 3.5% than lend to a risky credit at 9%.
     
  6. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    92,463
    Thanks Received:
    16,943
    Trophy Points:
    2,220
    Location:
    NYC
    Ratings:
    +53,587
    I know it's intentional and that the Fed is encouraging banks to not lend. I was just surprised that there is no longer a private residential mortgage market.

    No big deal.
     

Share This Page