So, what's the difference between Wall Street, Fannie & Freddie?

Discussion in 'Economy' started by CrusaderFrank, Jul 7, 2011.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    In my continuing quest to roll back the ignorance that Progressive LMSM and educational system has inflicted on this once great nation I ask, "So, what's the difference between Wall Street, Fannie & Freddie?"

    And in "Wall Street" I mean with respect to the housing market.

    Take all the time you need to give me your government approved wrong answers, I'll be here waiting.
     
  2. uscitizen
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    uscitizen Senior Member

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    Fannie and freddie were set up to help the average working class americans obtain homes and thereby also help the construction and mortgage industry.

    Wall Street was set up for the more wealthy to obtain money without actually doing any work.
     
  3. initforme
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    initforme VIP Member

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    US pretty much summed it up. Those who work on wall st are not my fellow americans.
     
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  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    The Similarities:

    1. They all buy mortgages from banks

    2. They then repackage the mortgages and sell them

    The Differences

    1. F/F had de facto guarantees from the US Gubbamint
     
  5. The T
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    The T George S. Patton Party Supporting Member

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    Indeed. Whether we like it or not. Paying for deadbeats. Moochers.
     
  6. Too Tall
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    Too Tall Senior Member

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    Fannie Mae and Freddie Mac were put under government control when failing subprime loans took them to the brink of insolvency. F & F rely on taxpayers for survival. The two have cost the Treasury Department about $130 billion since they were seized by regulators in September 2008.

    Wall Street provides capital to hundreds of corporations that employ millions of people. Millions of the investors in Wall Street are Americans workers that invest in stocks and bonds in their 401K plans for their retirement.
     
  7. Toro
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    Toro Diamond Member

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    Not much, actually.

    I think that is a very fair criticism of Fannie and Freddie. Like Wall Street, they became highly leveraged entities, even more leveraged than Wall Street.

    One difference is that Wall Street churned out shit mortgage structured products. The GSEs just bought them.
     
  8. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Q. Who set the standards of the percent of CRA loan a bank had to make, Wall Street or F/F?
     
  9. rdean
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    rdean rddean

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    Plus, FF made sure you had a job and could pay back the mortgage.

    Wall Street gave mortgages to anyone who wanted one and then sold those mortgages overseas as securities so they could collect the insurance.

    Fucker, how could you leave out the important stuff? You have to be a Republican. Your dishonesty exposes you.
     
  10. CrusaderFrank
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    CrusaderFrank Diamond Member

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    That's an incorrect answer!

    F/F was the first to say they would accept No Income No Assets Loans.
     

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