[zeestephen]

So, who's going to jail for this catastrophe?

So, where is the Left Side media outrage over this scam?

Fact - $130 billion of FNM and FRE stock value wiped out in seven years.

Fact - Fannie and Freddie have been touted for DECADES as "safe" stocks that pay a reliable dividend.

Fact - America's older and most conservative investors bought Fannie and Freddie stock because they believed the federal government implicitly guaranteed the mortgages Fannie and Freddie bought.

So, will the Congressmen who oversaw Fannie and Freddie go to jail?

Yeah, right.

So, will the career government bureaucrats who ran Fannie and Freddie go to jail?

Yeah, right.

So, have we seen any elderly people weeping on network news programs because their savings were wiped out?

Yeah, right.

Imagine for one second what the coverage of this story would be like if Fannie and Freddie were REAL for profit public corporations that had been run by executives who donated to the Republican Party.

The GOP and free enterprise would be massacred by the press, just like they were with the Enron debacle.

But when the US Government causes a $130 billion stock loss by forcing two government "corporations" to buy "junk" mortgages, well, I guess that's ok.

Because, you know, their intentions were good, and they weren't motivated by greed.

The world wide financial loss directly linked to the collapse of America's "Affirmative Action Mortgage Experiment" is now...$500 billion!

[EagleUSA]

In the eyes of liberal socialists, THE GOVERNMENT IS ALWAYS RIGHT — no matter who they wipe out and what cost to Americans, our wealth and our freedoms.

Washington is INDEED broken, and socialists, like Obama and his ilk, need to be STOPPED.

[proxy_user]

“So, have we seen any elderly people weeping on network news programs because their savings were wiped out?

Well, I always tell everyone who asks, never put more than 2% of your net worth in any one security. Something unexpected always happens to some company or other. A few years managing money will teach you that both bad and good things can happen, and no one can see them coming.

[Freedom_Is_Not_Free]

Bullish! No sign of recession here. Best time to buy... EVER!

[Tom D.]

Any person with enough brains to be investing should have been reading about the goings on at these two outfits for years. Certainly Congress has plenty to answer for here, but the investors who lose money here should not be able to say that they were not on notice of some goofy stuff happening with this bunch.

As someone else on this board has said, never put more than 2% of your eggs into any one basket. If you are not rich enough to buy 50 stocks, get into mutual funds.

Any voluntary investor who bought this stuff deserves the loss that he is taking.

[utax]

“So, will the career government bureaucrats who ran Fannie and Freddie go to jail?”

More like “career government sponsored entity” bureaucrats.
(The government bureaucrats don’t make tens of $millions as the GSE ones did while running the entities into the ground - well, at least not while they are stil in office).

To answer your question - No they will not go to jail. Most likely they will retire to a life of leisure on their estates in Maui or wherever else they choose.

[nypokerface]

I guess this Paul Miller guy has been sleeping the last few weeks. Shares Fannie and Freddie are pratically worthless right now. Anybody who stayed in these stocks knew they were taking a big risk.

[bpjam]

Is Barney Fag going to drag in Franklin Raines to explain how he made HUNDREDS of MILLIONS from Freddie Mac while running it into the ground?????

We all remember Franklin Raines. He was the lucky bastard who was the White House budget director under Clinton who happened to be sitting there when the GOP balanced the budget by cutting the capital gains tax and flooding the Treasury will hundreds of billions of unexpected money. Raines got to profit from the GOP brilliance by getting handed a job which allowed him to basically print money for himself - a quasi-government mortgage lender (that doesn’t lend money but does guarantee losers for other lenders).

Raines has been hiding for the last couple of years and for good reason. He should be the f’ing poster child for this housing crisis. He should be more famous than the former head of Countrywide Home Loans who was giving insider rates to his buddies on Capitol Hill.

[verity]

How much are you going to lose?

[Vince Ferrer]

The only thing we need to do is make sure the govermnent finishes the job and destroys them completely. The government should never have created these, and has no business bailing them out only to ensure their survival in their present form.

They should collect the good assets and break up the two into 30-40 smaller companies that are not too big to fail. Have an IPO for each one, and with the proceeds raised, pay off the bond holders of fannie and freddie. For the bad debts that cannot be sold off, hand them to the treasury, and write them off as a decrease in the money supply (deflation).

[bvw]

Sheep either have a good group of shepherds willing to drive off wolves and bandits — or they get killed and eaten. As sad as it may be for the sheep — that is what has happened. The sheep voted in the wolves and tolerated the bandits.

[Lorianne]

Bend over .... you know it’s coming.