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

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

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    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
     
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  2. william the wie
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    william the wie Gold Member

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    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.
     
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  3. Oddball
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    Oddball BANNED Supporting Member

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    [​IMG]
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    So, the Federal Government totally controls the residential mortgage market...yawn.

    Unfuckingbelieveable
     
  5. Toro
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    Toro Diamond Member

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    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
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    CrusaderFrank Diamond Member

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    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.
     

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