Page 1 of 2 12 LastLast
Results 1 to 20 of 23

Thread: OT: Govt seizing Fannie Mae and Freddie Mac

  1. #1
    Veteran
    Join Date
    Dec 2006
    Location
    Gateway to the Catskills
    Posts
    1,809

    OT: Govt seizing Fannie Mae and Freddie Mac

    [QUOTE] Breaking News Alert
    The New York Times
    Friday, September 5, 2008 -- 9:03 PM ET
    -----

    Government Preparing Plan to Seize Fannie Mae and Freddie Mac, Officials Say

    Senior officials from the Bush administration and the Federal Reserve informed top executives of Fannie Mae and Freddie Mac, the mortgage-finance giants, that the government is preparing a plan to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said.
    [/QUOTE]

    The ****'s getting deeper.

  2. #2
    Is that socialism?

  3. #3
    All League
    Join Date
    Sep 2007
    Location
    Wildcat Country
    Posts
    4,933
    [QUOTE=piney;2730180]Is that socialism?[/QUOTE]

    Pretty much.

  4. #4
    Board Moderator
    Jets Insider VIP
    JetsInsider.com Legend

    Join Date
    Sep 2005
    Location
    The depths of Despair.
    Posts
    40,000
    [QUOTE=BushyTheBeaver;2730189]Pretty much.[/QUOTE]

    So the Feds should let them falter?

    To what end?

    Regardless of the failed policies that led to this, this market requires some unprecedented action to bolster it....

    No doubt the Bush administration let the ball drop, but our choices are limited (literally, thanks Dems:steamin:) in the successors to this mess.

    Oh, well, McCain will handle it!;)

    The community organizer can go back to Chicago to handle those 125 homicides he left in his organizing wake, this year.:D;)

  5. #5
    [QUOTE=32green;2730216]So the Feds should let them falter?

    To what end?

    Regardless of the failed policies that led to this, this market requires some unprecedented action to bolster it....

    No doubt the Bush administration let the ball drop, but our choices are limited (literally, thanks Dems:steamin:) in the successors to this mess.

    Oh, well, McCain will handle it!;)

    The community organizer can go back to Chicago to handle those 125 homicides he left in his organizing wake, this year.:D;)[/QUOTE]


    so when the republicans want to exercise socialism it is ok?


    what happened to "pulling yourself up by your bootstraps?"

    is there really no other answer....or do they want a quick fix before the election

  6. #6
    Board Moderator
    Jets Insider VIP
    JetsInsider.com Legend

    Join Date
    Sep 2005
    Location
    The depths of Despair.
    Posts
    40,000
    [QUOTE=piney;2730220]or do they want a quick fix before the election[/QUOTE]


    Er, it couldnt hurt.


    :rolleyes:

  7. #7
    seriously though, is there no other alternative?

    I mean...I am not fully versed in the fannie may freddie mac situation, but can't they sell off the mortgages they have at a lower price to other lenders....is this just a way to save them money and not really alleviate the problem? Couldn't they settle some mortgages with current homeowners? Couldn't they sell the foreclosed homes at a low rate?

    Am I way off base? Anyone want to educate me?

  8. #8
    Veteran
    Join Date
    Aug 2008
    Location
    Red Bank
    Posts
    214
    The government is involved in some way with the companies anyway... and after the mess they got themselves into they shouldn't just be given cash and bailed out.

    So the government going in and sorting things out should be a good. Unfortunately, if they don't do things right they can forever screw the company up. This should be interesting.

  9. #9
    All League
    Join Date
    Sep 2007
    Location
    Wildcat Country
    Posts
    4,933
    [QUOTE=32green;2730216]So the Feds should let them falter?

    To what end?

    Regardless of the failed policies that led to this, this market requires some unprecedented action to bolster it....
    [/QUOTE]

    Clearly you're not a Libertarian. Where's the faith in capitalism? Why should our tax dollars go to bailing out bad companies instead of letting them die? Who are we going to bail out next? The banks? The airlines? How come when private companies fug up it's always the taxpayers who get screwed?

  10. #10
    [QUOTE=BushyTheBeaver;2730280]Clearly you're not a Libertarian. Where's the faith in capitalism? Why should our tax dollars go to bailing out bad companies instead of letting them die? Who are we going to bail out next? The banks? The airlines? How come when private companies fug up it's always the taxpayers who get screwed?[/QUOTE]

    right, but a single mom gets a WIC check for milk and all hell breaks loose

  11. #11
    Board Moderator
    Jets Insider VIP
    JetsInsider.com Legend

    Join Date
    Sep 2005
    Location
    The depths of Despair.
    Posts
    40,000
    [QUOTE=BushyTheBeaver;2730280]Clearly you're not a Libertarian. [/QUOTE]


    I couldnt even tell you where the Library is.

    But then you knew that.:D

  12. #12
    All League
    Join Date
    Sep 2007
    Location
    Wildcat Country
    Posts
    4,933
    [QUOTE=32green;2730318]I couldnt even tell you where the Library is.

    But then you knew that.:D[/QUOTE]

    Did you ever get rid of your bees? Suddenly today I have a big bee problem.

  13. #13
    Board Moderator
    Jets Insider VIP
    JetsInsider.com Legend

    Join Date
    Sep 2005
    Location
    The depths of Despair.
    Posts
    40,000
    [QUOTE=BushyTheBeaver;2730336]Did you ever get rid of your bees? Suddenly today I have a big bee problem.[/QUOTE]

    LMAO, yes, but now the skeeters are killing me. My Friends father died of West Nile afew weeks ago (in Nassau Cty NY).

    I think its a Lib plot.

    ;)

  14. #14
    All League
    Join Date
    Apr 2003
    Location
    Missouri
    Posts
    4,115
    [QUOTE=beemer;2730155]The ****'s getting deeper.[/QUOTE]


    Fannie Mae, and Freddie Mac were an abomination from their institution....so let's guess which POTUS started them.

    It wasn't a Republican.

    Actually, it was the first POTUS to take a stab at socialism.

  15. #15
    All League
    Join Date
    Sep 2007
    Location
    Wildcat Country
    Posts
    4,933
    [QUOTE=32green;2730344]LMAO, yes, but now the skeeters are killing me. My Friends father died of West Nile afew weeks ago (in Nassau Cty NY).

    I think its a Lib plot.

    ;)[/QUOTE]

    Sorry for your friend's loss. That's awfull.

    All the bees in my yard look like a snarling Dick Cheney. It's rather frightening. :eek:

  16. #16
    Board Moderator
    Jets Insider VIP
    JetsInsider.com Legend

    Join Date
    Sep 2005
    Location
    The depths of Despair.
    Posts
    40,000
    [QUOTE=BushyTheBeaver;2730364]

    All the bees in my yard look like a snarling Dick Cheney. It's rather frightening. :eek:

    [/QUOTE]


    I think that is more a function of twelve O'Clock martinis in the hammock, away from the blushing bride :eek:, and three screaming kids, than actual politics, but I'll trust you on this one.

    :yes:

  17. #17
    All League
    Join Date
    Sep 2007
    Location
    Wildcat Country
    Posts
    4,933
    [QUOTE=32green;2730429]I think that is more a function of twelve O'Clock martinis in the hammock, away from the blushing bride :eek:, and three screaming kids, than actual politics, but I'll trust you on this one.

    :yes:[/QUOTE]

    Not exactly. Though I will confess that there are days when the 300 Dick Cheney bees are less daunting than the three screaming kids. :O

  18. #18
    Jets Insider VIP
    Join Date
    Feb 2006
    Location
    Van down by the river
    Posts
    22,845
    [QUOTE=32green;2730216]So the Feds should let them falter?

    To what end?

    Regardless of the failed policies that led to this, this market requires some unprecedented action to bolster it....

    No doubt the Bush administration let the ball drop, but our choices are limited (literally, thanks Dems:steamin:) in the successors to this mess.

    Oh, well, McCain will handle it!;)

    The community organizer can go back to Chicago to handle those 125 homicides he left in his organizing wake, this year.:D;)[/QUOTE]

    Don't your hands ever get tired? This is a lot of stroking riught here...

  19. #19
    Hall Of Fame
    Join Date
    Jan 2006
    Location
    Long Island & Section 337
    Posts
    4,859
    [QUOTE=piney;2730282]right, but a single mom gets a WIC check for milk and all hell breaks loose[/QUOTE]

    No, but when the single mom on medicaid with WIC breaks out her $500 cell phone during her doctor visit to answer a text message (like I actually saw today), I think that is a problem.

  20. #20
    Something is rotten in Denmark. That whole bailout is fishy, IMO.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Follow Us