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Sixteen months after they were seized to prevent their collapse, the companies remain wards of the state, running a tab that has now exceeded $125 billion in what has become the single costliest component of the federal bailout for the financial system.
Some members of Congress have complained that the huge public commitment is unsustainable. But the administration has been reluctant to start reforming Fannie Mae and Freddie Mac, officials and analysts say, because the firms in their current form play an essential role in supporting the housing market at a time when it is still under severe stress. As other financial firms have exited the market and credit has seized up, Fannie and Freddie have been behind the vast majority of mortgages made since the start of the financial crisis. The companies now own or back more than half of all U.S. home loans.
The Dems are waiting for the Republicans, when they take power soon, to tear apart Fannie and Freddie. Then they can use it for 2012 by claiming Republicans have it out for poor people.
Just like Dodd and Frank did to create this mess in the first place.
I've been waiting for a good opportunity to use this graph. It's really surprising to see how frequently people overstate the cost of the "'bank bailout" while ignoring the substantial costs of the housing bailout.
Government owned/operated corporations can't pay back bailout money, because the government can't create wealth. Only the private sector can.
If we bailout the post office, the post office will never repay that bailout money; it's impossible.
So when the post office was turning a profit, what was that?
Government owned/operated corporations can't pay back bailout money, because the government can't create wealth. Only the private sector can.
If we bailout the post office, the post office will never repay that bailout money; it's impossible.
That was paying back Peter the money that was robbed to pay Paul. Then, they robbed Peter to pay Paul, all over again.
That is bull crap
The goverrnment can create wealth just as the private sector can
A toll Road built by the government that turns a profit from the tolls, created wealth just a toll road built by private industry that turns a profit created wealth
and if paul used the money he robbed from peter to build peter a house? It's not as simple as you make it
No it can't. Where does the money come from?
Where does the money come from? The private sector. If the private sector isn't making money, the government isn't getting revenue.
Again and again and again, that's bullcrap, the government can't create wealth. Only the private sector can create wealth.
So
If the government cant create wealth...
So, kinda similar to the way repubs run things. :dohThe Dems are waiting for the Republicans, when they take power soon, to tear apart Fannie and Freddie. Then they can use it for 2012 by claiming Republicans have it out for poor people.
Just like Dodd and Frank did to create this mess in the first place.
The Treasury said on Dec. 24 it would provide an unlimited amount of assistance to the companies as needed for the next three years to alleviate market concern that the government lifeline for Fannie Mae and Freddie Mac, the largest source of money for U.S. home loans, could lapse or be exhausted.
another crisis – a bigger crisis that weakens both our financial sector and our larger economy – is more than predictable, it is inevitable
a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government
Well then, I guess we can all agree that government regulations are needed because the "free market" won't police itself and will even do the exact things that nearly collapsed our entire economy, if allowed to.no reform of fannie and fred but a roofless reconstruction in late december
U.S. to Lose $400 Billion on Fannie, Freddie, Wallison Says - Bloomberg.com
meanwhile, abc reports that the non partisan Congressional Oversight Panel warns:
Economists Warn Another Financial on Way to U.S. Economy - ABC News
the cause of the economists' concern is:
in other words, the continuance of the "high risk lending" that got us in this mess in the first place, except on a GREATLY INCREASED SCALE
in other words, obama is so far just more of the same, only a LOT WORSE
hey, them's the Oversight Panelists talking, not the peaceful prof
take up your gripes with ms elizabeth warren, the chair
she's some kinda egghead guru from harvard, i believe, whom i read about elsewhere somewhere whom EVERYONE just raves about
i think she even won a nobel (which doesn't quite count for as much as it used to)
on a final note, it is common knowledge in the real estate community that the end of foreclosures is NO END IN SIGHT
Foreclosures exceed 300,000 for 11th straight month | The Money Times
we're facing a DOOMSDAY CRISIS, says ms warren and her upper division colleagues
there's no way out
americans have lost HOPE
sorry
are you really SURE you want to be president, after all, mr pie-in-the-face?
that's absurd
no free market lender is gonna put THE MAJORITY of his capital out there to people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS
fannie and fred would, did and continue to do so
obama TRIPLED DOWN
man up
that's absurd
no free market lender is gonna put THE MAJORITY of his capital out there to people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS
fannie and fred would, did and continue to do so
obama TRIPLED DOWN
man up
Could provide the source to prove that Fanny and Freddy were mandated by the government give home loans to "people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS"?for such suicidal practices to be implemented on such a massive scale at so institutional a level nation wide requires more than mere stupidity to explain
never said they were mandated, i'm too smart
google yourself
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