Conservatorship for Freddie and Fannie?

Collarspace Discussion Forums

Home Login Search

Conservatorship for Freddie and Fannie?

View related threads: (in this forum | in all forums)

Logged in as: Guest

All Forums >> [Casual Banter] >> Off the Grid >> Conservatorship for Freddie and Fannie?

Page: [1]

Message

<< Older Topic Newer Topic >>

Conservatorship for Freddie and Fannie? - 7/11/2008 5:48:58 PM

candystripper

Posts: 3486
Joined: 11/1/2005
Status: offline

quote:

Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.

The companies, Fannie Mae and Freddie Mac, have been hit hard by the mortgage foreclosure crisis. Their shares are plummeting and their borrowing costs are rising as investors worry that the companies will suffer losses far larger than the $11 billion they have already lost in recent months. Now, as housing prices decline further and foreclosures grow, the markets are worried that Fannie and Freddie themselves may default on their debt.

New York Times, July 11, 2008 by Stephen Labaton and Steven R. Weisman

http://www.nytimes.com/2008/07/11/business/11fannie.html?th&emc=th

Any thoughts?

candystripper

< Message edited by candystripper -- 7/11/2008 5:51:30 PM >

Profile

Post #: 1

RE: Conservatorship for Freddie and Fannie? - 7/11/2008 5:59:25 PM

Lockit

Posts: 11292
Joined: 5/7/2007
Status: offline

Maybe soon the government will be running everything and everyone. We are dominated... but we don't trust our dominant and I think with good reason. In the meantime... I wish I could get a bail out!

(in reply to candystripper)

Profile

Post #: 2

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 8:19:57 PM

UncleNasty

Posts: 1108
Joined: 3/20/2004
Status: offline

We're only starting to feel the ripples of a coming financial collapse. The so called "sub-prime mortgage crisis" is only a symptom of a much larger problem.

Control of our money supply is in the hands of a few individuals that run the private corporation called the Federal Reserve, and has been for the past 95 years. It is no more federal than Federal Express. We don't know who all of the major stock holders are, and the Federal Reserve has not been fully audited - ever.

Can anyone tell me where in the US Constitution the federal government is given the power and/or authority to "bail out" private companies and corporations using assets taken from the citizens? Nowhere. But, we're going to see a number of bailouts of these failing private corporations in the comings months and years, all at the expense of citizens, so that a few major stock holders will be able to not loose their fortunes. Meanwhile countless citizens will have the comparitively meager wealth taken from them.

Seems to me the federal government would better serve their oath of office by protecting, even bailing out, the individual citizens.

Uncle Nasty

(in reply to Lockit)

Profile

Post #: 3

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 8:50:25 PM

Termyn8or

Posts: 18681
Joined: 11/12/2005
Status: offline

U Nasty, with posts like that you might get on my good side, and that can be dangerous around here, but if you got the balls........

Ron Paul introduced a bill which would require the government to buy thre fed. Know where it went ? Fucking nowhere.

People wonder why I seem pissed off and not so happy, well it is because I know what is going on, I know who is doing it and how it is done, but I can't reveal all of that in the open forum. You think that is going to make me fucking happy ? Believe it or not I do care about some people on here, and what we are talking about fucks everyone, so go figure.

Freddie and Fannie can go fuck themselves, along with the fucking idiot sheeple who can't afford the house they bought. Fukum. They should have paid more attention in math class, or they wouldn't have to pay as much now. And they are still doing it !

Yup, a friend makes about 600 a week, the payment is 900 and they are giving her the house. Well I guess not really. I told her straight out that she will probably lose it in a few years. Nothing I can do would save her, it is her John Hancock on the dotted line, not mine.

But the issue of the fed never getting audited is a whole nother subject, want me to start a thread on it ?

T

(in reply to UncleNasty)

Profile

Post #: 4

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 8:56:28 PM

DomKen

Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline

quote:

ORIGINAL: UncleNasty
Can anyone tell me where in the US Constitution the federal government is given the power and/or authority to "bail out" private companies and corporations using assets taken from the citizens? Nowhere.

Article I, section 8.

(in reply to UncleNasty)

Profile

Post #: 5

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 10:12:01 PM

Vendaval

Posts: 10297
Joined: 1/15/2005
Status: offline

Slap them both on the ass, stick them in detention and send them back a grade.

_____________________________

"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
"WOLF MOON", OCTOBER RUST, TYPE O NEGATIVE

http://KinkMeet.co.uk

(in reply to candystripper)

Profile

Post #: 6

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 10:19:12 PM

CollaredThomas

Posts: 1
Joined: 5/18/2008
Status: offline

Uncle Nasty, did you work at the fed office in Louisville?

(in reply to Vendaval)

Profile

Post #: 7

RE: Conservatorship for Freddie and Fannie? - 7/18/2008 10:23:35 PM

Alumbrado

Posts: 5560
Status: offline

Hello.... guess what the 'F' stands for in both Fannie Mae, and Freddie Mac? They are government corporations like Amtrak....'private' in only the barest sense.

http://en.wikipedia.org/wiki/Federal_National_Mortgage_Association

(in reply to Vendaval)

Profile

Post #: 8