Fannie and Freddie
Feeling Sandwiched In?
Reuters has compiled a long list of “winners and losers” as a result of the goverment bailout of Fannie and Freddie. I guess that there are always winners and losers at most anything. The old “win-win” concept is a tough one to bring about. As noted, the list on both sides is a long one; in case you missed it you can see the entire list by clicking here. Topping the two lists were:
LIKELY WINNERS
- Major Banks, which would benefit from any increased stability in the credit markets.
PROBABLE LOSERS
- Taxpayers; who have to foot the bill for bailing out the companies.
Any Opinions?
September 8th, 2008 at 11:44 am
when are the American people going to wake up to the fact that “Govt. is not the answer”… Govt. is the problem!
As tough as it would be… the right thing would be to let the market take its lumps and go through the learning curve.
If you don’t have to pay for your mistakes… you’re bound to repeat them.
September 8th, 2008 at 12:15 pm
Mauijeff’s Ronald Reagan quote is right on. As a staunch republican I am appalled that Bush would allow something like this to happen; the buck stops there, and now I am really stuck. I hate Obama, but have bought into the fact that McCain is no different. If they would switch positions and put that babe at the top of the ticket maybe I’d be okay.
September 8th, 2008 at 12:34 pm
Like it or not you guys we are a nation that is FOR the people, and sometimes people need help. This was the right thing to do and while the banks are at the top of that benefactor list, they are NOT alone on the list; read it all.
September 8th, 2008 at 4:34 pm
We saw a long overdue Wall Street rally on Monday as a result of the government taking over Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency will can (as they should) the chief executives at both companies and do away with their shareholder dividends. People with Fannie Mae and Freddie Mac common shares, which include thousands of their employees, will be last in line for any investment recovery. Their shares will worthless as part of the takeover.
I would call this paying for their mistakes!
September 9th, 2008 at 7:26 am
When in doubt… read the Constitution… this is NOT Govt.’s place… we need to stop depending on Govt for all our needs… Life, Liberty, and the Pursuit of Happiness..thats it!
No more “Nanny State”
No more “Redistribution of Wealth”
September 9th, 2008 at 12:09 pm
Mauijeff says it right. Each man for himself. If you take a chance and cannot cut it, tough baloney. We need to stop bailing out the losers and rewarding the winners. A nation of winners rather than whiners will eventually be the result.
September 9th, 2008 at 3:26 pm
And the good news is;
Mortgage interest rates are going down as a result of the Bush approved federal takeover of Fannie and Freddie.
Fixed mortgages now average 5.88 percent, down from 6.26 percent a week ago.
The government’s action brings stability to the mortgage market.
This takeover will encourage more mortgage lending, putting people into homes that they would not be able to get under the old Fannie and Freddie deal.
September 10th, 2008 at 4:58 am
Whats next… is the Govt. going to step in and bail out all homeowners that are in foreclosure??? Where does it end?
The Govt. is writing checks it cant cover… and leading us right into a financial breakdown.
In short… we’re screwed!
September 10th, 2008 at 10:04 am
The people who destroyed the housing market, the people who destroyed the mortgage industry are now running it, and everybody is going, “Yay, all right, all right, all right.”
The socialists around the world are beside themselves, world stock markets through the roof over the news that the US government is taking over the mortgage industry. Look, nothing we can do about it now but I’m going to tell you, it’s typical. They blow it, they botch it, they screw it all up, and they end up running it. And everybody applauds.
September 11th, 2008 at 8:59 pm
Aloha Ron,
This goes all the way back to Franklin D. Roosevelt March 4, 1933 April 12, 1945[1] Democratic. He started the checking system and the lifestyle of living above your means! Fannie mae was where I paid my student loans…. I think people need to slow down, smell the roses, work hard and live with in their means. If you cannot afford it don’t buy it: it doesn’t mean you can’t dream or reach your goals; it just means you can sleep at night because you earned what you are eating ,where you are living, and whom you are spending time with. In the long run, how many friends stick around when the cash flow is depleted????
When will people wake up to the fact that we American’s must take responsibility for our country, our work ethic, our words, when did a hand shake become worth nothing? Keep it Simple Stupid…..Char
September 11th, 2008 at 9:10 pm
When Lyndon Johnson was President of the United
States, he had two jars on his desk. One said,
“Favors I owe”. The other said, “Favors due me”.
He tried to make sure the latter was the fullest.
I just thought I would add this…
Aloha,
Char
P.S. I cannot believe it is Sept 11th………