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Thread: OT: Govt seizing Fannie Mae and Freddie Mac

  1. #1
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    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
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    Is that socialism?

  3. #3
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    [QUOTE=piney;2730180]Is that socialism?[/QUOTE]

    Pretty much.

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    [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;)

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    [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
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    [QUOTE=piney;2730220]or do they want a quick fix before the election[/QUOTE]


    Er, it couldnt hurt.


    :rolleyes:

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    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?

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    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.

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    [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?

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    [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
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    [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

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    [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
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    [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.

    ;)

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    [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.

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    [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
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    [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:

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    [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

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

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