Federal Government to takeover F-Mac/Mae.

outlaw2001it · September 6th, 2008, 12:41 PM

The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend. It's fine that the shareholders are losing money also, but I say let the shareholders lose everything, and what is left be paid for by us taxpayers.

Feds to Take Over Fannie, Freddie - TIME

**RobRich** · September 6th, 2008, 01:11 PM

Thread moved, yet again. Is there any particular reason you can not post your politically-related threads in DebateIMO?

outlaw2001it · September 6th, 2008, 01:31 PM

Sorry I thought I did. However I just wanted to make you work a little bit today since there are no spam threads for Nike Shoes, or CD-keys to various games to delete.

Pexster · September 6th, 2008, 01:34 PM

This is going to be HUGE next week. The fallout and controversy generated over this could easily overshadow election politics for a while. Of course, the candidates will have to add their 2c x 2 and spin to it, but the financial ramifications and fallout could easily overshadow that.

**RobRich** · September 6th, 2008, 01:42 PM

Quote:

Originally Posted by outlaw2001it

Sorry I thought I did.

No prob.

Quote:

Originally Posted by Pexster

This is going to be HUGE next week.

outlaw2001it · September 6th, 2008, 01:43 PM

I understand that their stock plummeted, and their shareholders lost a lot of money, but I still say that their stockholders should lose everything before us taxpayers flip the bill. If we do pay the bill where is this $25 billion coming from?

Toadman · September 6th, 2008, 04:23 PM

So ultimately the taxpayers have to bail out the idiots who bought more home than they could afford with ARM's.

Pexster · September 6th, 2008, 06:24 PM

Here's a good Q&A with Barney Frank, chairman of the House Financial Services Committee.

The Real Bingo · September 6th, 2008, 07:00 PM

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outlaw2001it · September 6th, 2008, 07:12 PM

Good article, and they were right about him not be shy about saying who got us into this mess. The way that I figure it is when we had a surplus (when Clinton left office & before) the Federal Reserve Interest Rate should have been higher than what it was. It would have improved our economy tremendously, and it would have prevented this housing crisis that we have now. There would be no way for a person to buy a house if they can't afford it, or to buy two, or three of them because they were cheap, and no problems with getting loans. I guess sometime today we'll find out about F-Mac/Mae, and then we'll see what happens.