Fannie and Freddie

Post by **GORDON** » Wed Jul 16, 2008 11:21 am

So the federal government is going to step in yet again to bail out a poorly-managed industry, probably to the tune of at least ten billion (judging from how much the airlines wanted in 2002).

http://www.reuters.com/article....icsNews

Hey, instead of giving this money to the same corporations that made bad decisions in the first place, why don't we crunch the numbers and see if it is feasible to just pay off some mortgages that are going into foreclosure? It isn't fair to EVERY home owner, of course, but it sure as hell isn't fair to the taxpayer to give money to a corporate entity that will still more than likely be paying huge bonuses to the executives in charge. By paying off individual mortgages, instead...

well, hell with it. Even if it were feasible it would never happen.

Mommy Dearest · Post by **Mommy Dearest** » Wed Jul 16, 2008 11:44 am

Wow we agree!!!!!!!!!!! Freddie and Fannie were implied to be backed by the federal govt in the first place. However, if they could work to keep people in their homes there would not be a crunch. The mortgage company comes up and says, ok you can not do the 14%, how about if we restructure and make it 6%. Homeowners could keep their homes, the govment does not pay, and the mortgage companies are not stuck with a bunch of foreclosed houses that cost them more money than they are worth.

But again you are correct. Makes too much sense.

Malcolm · Post by **Malcolm** » Wed Jul 16, 2008 12:09 pm

Connecticut Democratic Sen. Christopher Dodd, presiding over the hearing, said he would like to act on the plan this week. But he questioned how much power the plan would give to Treasury and how much risk taxpayers might have to shoulder.

How about zero risk, Chris? But then again, it is fun to play w\ other people's cash.

unkbill · Post by **unkbill** » Wed Jul 16, 2008 1:13 pm

GORDON wrote:corporate entity that will still more than likely be paying huge bonuses to the executives in charge.

But I thought that is the way it works. Execs make porr decisions. Company goes belly up. Execs deploy golden parachute and walk away with millions while leaving the shareholders holding the bag.

Post by **GORDON** » Sat Jul 19, 2008 3:43 pm

Yes, they obviously need a government bail-out.

http://www.msnbc.msn.com/id/25740405/

Malcolm · Post by **Malcolm** » Sat Jul 19, 2008 4:07 pm

$20 mil? Motherfucker.

Mommy Dearest · Post by **Mommy Dearest** » Sat Jul 19, 2008 9:37 pm

Malcolm wrote:$20 mil? Motherfucker.

No hon it is more like "Only 20 mil"mother fucker

Malcolm · Post by **Malcolm** » Sun Jul 20, 2008 3:18 pm

Mommy Dearest wrote:
Malcolm wrote:$20 mil? Motherfucker.
No hon it is more like "Only 20 mil"mother fucker

Really? Does anyone have twenty million burning a hole in their pocket right now? Cos I'll take it. Hell, it's only $20 mil.

Post by **GORDON** » Sun Jul 20, 2008 4:17 pm

$20MM for running the company into the ground, at that.

I mean, I could have done that for only $18MM.

Post by **GORDON** » Wed Sep 10, 2008 1:58 pm

Here's the list of senators who recievied bribes from Fannie and Freddie, over the last decade, broken down highest --> lowest.

http://www.opensecrets.org/news....ni.html

Obama is #3, impressive since he's only been a senator for 2 years.

Post by **TheCatt** » Wed Sep 10, 2008 2:49 pm

Obama has been a senator since Jan 2005, so more like 3 2/3 years.

Post by **GORDON** » Wed Sep 10, 2008 3:12 pm

Plus all that time as a community organizer, so I have trouble keeping his myriad executive experience straight.

Malcolm · Post by **Malcolm** » Wed Sep 10, 2008 4:28 pm

Ah, Kit Bond & Roy Blunt, the two least competent conservatives ever to walk outta Misery.

Post by **GORDON** » Thu Nov 20, 2008 1:48 pm

Hitler responds to the bad news about his adjustable rate mortgage.

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Post by **Vince** » Thu Nov 20, 2008 6:30 pm

I'm still waiting for the congressional hearings like we had for Enron. Mae and Mac are a good 10x the size of the losses there and we had hearings.

So they're coming, right?

Post by **GORDON** » Thu Nov 20, 2008 6:37 pm

Possibly now that the election is over. Everyone ignored that Obama was the largest receiver of bribe money from them in all of Washington.

Post by **GORDON** » Thu Nov 20, 2008 6:41 pm

No more foreclosures or evictions until January 9.

Merry Christmas!

Grace period paid for by taxpayers? Nothin's free.

Edited By GORDON on 1227224505

Mommy Dearest · Post by **Mommy Dearest** » Thu Nov 20, 2008 11:05 pm

Getting no link?

Post by **GORDON** » Thu Nov 20, 2008 11:48 pm

Still opens for me.

Mommy Dearest · Post by **Mommy Dearest** » Thu Nov 20, 2008 11:50 pm

GORDON wrote:Still opens for me.

still got none.. try again tomorrow