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:
    83,235
    Thanks Received:
    15,269
    Trophy Points:
    2,210
    Ratings:
    +40,054
    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:
    7,895
    Thanks Received:
    747
    Trophy Points:
    175
    Ratings:
    +1,989
    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 BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,410
    [​IMG]
     
  4. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    83,235
    Thanks Received:
    15,269
    Trophy Points:
    2,210
    Ratings:
    +40,054
    So, the Federal Government totally controls the residential mortgage market...yawn.

    Unfuckingbelieveable
     
  5. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    52,535
    Thanks Received:
    11,395
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +27,299
    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:
    83,235
    Thanks Received:
    15,269
    Trophy Points:
    2,210
    Ratings:
    +40,054
    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