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U.S. Considers Remaking Mortgage Giants, Fannie Mae & Freddy Mac
Washington Post ^
| Thursday, August 6, 2009
| Zachary A. Goldfarb and David Cho
Posted on 08/05/2009 7:11:37 PM PDT by Bokababe
The Obama administration is considering an overhaul of Fannie Mae and Freddie Mac that would strip the mortgage finance giants of hundreds of billions of dollars in troubled loans and create a new structure to support the home-loan market, government officials said....
(Excerpt) Read more at washingtonpost.com ...
TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: fanniemae; freddymac; lping; mortgage; obama
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Cleaning up the books so that they can start over, and do the same thing all over again!
1
posted on
08/05/2009 7:11:37 PM PDT
by
Bokababe
To: Bokababe
They haven’t stolen enough from the Treasury yet?
2
posted on
08/05/2009 7:14:59 PM PDT
by
kempster
To: Bokababe
3
posted on
08/05/2009 7:18:16 PM PDT
by
VRWC For Truth
(Throw the bums out who vote yes on the bail out)
To: Bokababe
Like ACORN, millions of tax payers dollars will go to increase their funding after they change their names.
It'll be the same scam, but it will be wearing a different mask.
There's no way the democrat base will ever pay for anything themselves, let alone their own homes.
To: Bokababe
Offloading the defaults to another government subsidized entity does not fix the problem. If you add up the administrative costs, reassessments, etc. It will cost the taxpayers more. What a joke.
5
posted on
08/05/2009 7:22:51 PM PDT
by
allmost
To: Bokababe
Barney Fran & Cris Dodd will lead the reform group.
Sarc off.
6
posted on
08/05/2009 7:23:20 PM PDT
by
golfisnr1
To: Bokababe
But... But... Obama and the liberal press just declared the recession was over!
ROFL.
They know it all about to tank, their actions speak louder than their words.
7
posted on
08/05/2009 7:25:35 PM PDT
by
TexasFreeper2009
(Obama lied, the economy died)
To: Bokababe
Well, it worked in the 80s for RTC, which even showed a bit of a profit in the end.
In this case, isn’t this just what TARP was supposed to be doing already ? Maybe they spent it all on car companies, black holes in NJ etc...
8
posted on
08/05/2009 7:43:37 PM PDT
by
1066AD
To: Bokababe
The only way to remake them properly is to liquidate them.
9
posted on
08/05/2009 7:44:59 PM PDT
by
dr_who
To: Bokababe
How is this “cleaning up the books”?
10
posted on
08/05/2009 7:46:54 PM PDT
by
GOPJ
( Obama "the joker" creates terror by chaos and confusion - pitting people against each other-FR:KitJ)
To: Bokababe
Cleaning up the books so that they can start over, and do the same thing all over again!It's worst than that. They won't clean the books, they'll actually hide the books and slowly bleed money from the "new" organization into the old to cover up the losses the old Fannie/Freddie had. It's been done in Japan a few times since their collapse a few decades ago.
11
posted on
08/05/2009 7:50:11 PM PDT
by
NotSoModerate
(Report dissenters to snitch@whitehouse.gov for a $4,500 tax credit)
To: rabscuttle385; bamahead; djsherin; dcwusmc
12
posted on
08/05/2009 7:58:08 PM PDT
by
Bokababe
(Save Christian Kosovo! http://www.savekosovo.org)
To: Bokababe
Remove all the political hacks.
13
posted on
08/05/2009 8:08:30 PM PDT
by
popdonnelly
(Yes, we disagree - no, we won't shut up - no, we won't quit.)
To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
would strip the mortgage finance giants of hundreds of billions of dollars in troubled loans and create a new structure to support the home-loan market
14
posted on
08/05/2009 8:09:57 PM PDT
by
SunkenCiv
(https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
To: Bokababe
Why not....we’re remaking the nation.
To: Bokababe
support the home mortgage market with.....what? exactly?
To: Bokababe
And where, pray tell, are they planning to unload these troubled assets? Print up more funny money? Borrow more from Sudan? This is nuts...
17
posted on
08/05/2009 10:05:53 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: Bokababe
Fannie and Freddie’s stocks were inexplicably up today.
CNBC made a note of it and most said it may have been short covering.
In light of this news, it is obvious that people in the Obama administration need to be prosecuted for insider trading and securities fraud.
18
posted on
08/05/2009 10:57:50 PM PDT
by
staytrue
To: staytrue
A commenter on the WaPo site called the new “good bank”:
FUGGEDABOUTIT, INC
LOL!
19
posted on
08/06/2009 3:08:48 AM PDT
by
Timeout
(Brits have the royals. Russia, the Nomenklatura. WE have our privileged "public servant" class.)
To: Bokababe
I almost fell out of my chair when I heard this!
20
posted on
08/06/2009 4:40:54 AM PDT
by
smokingfrog
(No man's life, liberty or property is safe while the legislature is in session. I AM JIM THOMPSON)
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