Post a new topic
    7 Replies Latest reply on Dec 15, 2008 1:17 PM by NatOnline

    Fannie Mae and Freddie Mac

    Tori Adventurer
      How do you feel about the Government's seizure of the two giants? Its being said that it could become the most expensive financial bailouts in U.S. history!

      Tori
        • Re: Fannie Mae and Freddie Mac
          NatOnline Tracker
          I think if it was regulated correctly we will never see this mess. Free market doesn't mean anarchic or jungle market.

          I beleive the banks failed to auto regulate their own market.
          • Re: Fannie Mae and Freddie Mac
            Wayfarer
            I think there is a fine line between what they are doing and socialism. Do we want the goverment to run everything? I don't think so.

            They bailed out Bear Sterns, now freddie and fannie, now leaman bros is crashing and they have no money and have told the banks to bail them out.

            They can't keep spending our tax dollars to protect bad investments. I realize a fannie freddie crash would be bad, but if the feds had not been sleeping for the last 8 years we would not be in this mess. And it is just the tip of the iceberg, that is why they are bailing them out.

            The feds know how bad this could get. They are just trying to hold on until the next president has to deal with it. This is a big big mess and it is killing our economy.
              • Re: Fannie Mae and Freddie Mac
                Iwrite Pioneer
                I do hope and pray this guy is wrong. I watched this after the game last night. It is speaks volumes that we hear this from 60 Minutes but this man hasn't been in front of congress.

                Oh, I forgot, Congress is too busy positioning for the next elections!

                The collapse of the aid for the car industry was politics at its worse. For the record, the Japanese, the German and even the Swedes are providing aid for their car industry because they get it that the collapse of an industry in not the same as the collapse of a company.

                Amazing.

                  • Re: Fannie Mae and Freddie Mac
                    NatOnline Tracker
                    That's right it is amazing.

                    In my opinion it will be a huge and long task before going back to normal, unfortunately a lot of corporations and small business will fail.

                    Bailouts are just patches the problems temporary, I wish to see some fundamental changes, if not we are just fixing problems for a short period of the time.

                    I don't know if you hear like me, but the products with variable interest rates are what bring down the market, hurt people.

                    These products should be forbidden. This is what hurt people, this is what hurt the market, this is what hurt the economy.
                      • Re: Fannie Mae and Freddie Mac
                        Iwrite Pioneer
                        Credit in its current form is also the problem. Businesses and people need to look at how they use credit differently - living off of credit will only come back to bite you. I recognize that credit is needed but depending on it is both dangerous and foolish. A company with money saved can weather an economic hurricane like this better than a company with plenty of credit.

                        We have stopped saving.
                          • Re: Fannie Mae and Freddie Mac
                            NatOnline Tracker
                            Don't make me wrong, I am not against credit.

                            But a well regulate credit system will be much better. Look at all the financial products like ARM and derivated products, Fund edges, etc... How they autorized mortgage without proper documentation of income. I mean companies like that authorized mortgage ARM, cashed the commissions they made off this "montage" then have no concerns about how people will assume the payments. Where is the responsability? Is there any deontology code? Why the banks give away money that they know will never reimbursed?

                            How comes banks are shooting on their own feet by allowing lending money too easy and mess up credit history. I can tell you that if everything I read is reel, then 1/3 of Americans or more will not after this storm allowed to borrow any money.

                            What is the point of doing that?