Should we bail out Freddie and Fannie?

Question

AND if we do do we own the houses that they made bad loans for? OR could we let the people who owe the money keep the houses.

I for one am getting VERY tired of paying for other peoples bad judgment. The Bush administration and the Federal Reserve announced an emergency rescue plan for Freddie and Fannie so quickly to spend money they don't have and put us even further in debt. Where oh where is this money coming from?

http://biz.yahoo.com/ap/080714/mortgage_giants_crisis.html

Answer 1

Absolutely not!

Answer 2

To paraphrase a wise answerer : Absolutely Not.  The damm government never bailed me out of a debt...or you.

Answer 3

Thank the PNAC and it's puppet masters.  You get what you deserve, now quit yer belly aching.  King George and his puppet masters will be out of office soon.  If you do vote in November remember this financial mess was brought your way by the republican party.

Friends do NOT let friends vote republican.

190 days and the country will be back in America's hands

Answer 4

Sure. Why not? Then the wealthy fat-cats at the top of these organizations can keep right on doing what they've been doing for the past century...fleecing the rest of us though a government policy of privatized profits and socialized losses.

What's in YOUR wallet?

Answer 5

Just a few points:

If we (I'll get back to the we in a bit) allow Fannie-Freddie to fail not only would the entire banking system collapse but it would take the world economy with it.

Look at the number of banks teetering on the edge listed in the article you referenced. (National City Corp, Washington Mutual Inc.'s, Fannie-Freddie). This represents trillions of dollars.

The banking system operates on faith. You deposit money this the faith that it will be there when you return to get it.

The we in this is anyone that borrows money, home loans, car loans, credit cards. That money has to be there for business start up capital, expansion, etc. a cash society in not realistic.

Answer 6

If they go under then the Taxpayer will have to utimately bail them out because the government will have to do something with all the houses and property owned by Freddie and Fannie---either that or let the economy go into a deep depression greater than the one in 1929----of course to do so would create hyperinflation never seen in this country.

Answer 7

Unfortunately we all pay whether there is a bail out or not.  If the government lets the wholesaler go bust, then rates go up for everyone and the values of homes goes down for everyone.   Whether we like it or not the real estate lending industry is a significant portion of our economy.  If it fails we all fail.

Answer 8

Just what happens when government sponsored,but still private corporations are allowed to have a monopoly on the whole housing finance system. just privatize the profits,but socialize the losses. That's the 'free' market for ya!

http://hnn.us/articles/1849.html

maybe just reading this article might give U insight on what has been going on.

Answer 9

Freddie needs to find a JOB..

AND!

SO SHOULD FANNIE MAE.....

.....

["Critics have warned for years that Fannie and Freddie had grown too large, with not enough of a financial cushion.

"They have been allowed to grow out of control to the point where they must be backed by the U.S. government," said Peter Wallison, a senior fellow at the American Enterprise Institute and a longtime critic. "We have just ... allowed ourselves to become hostage to these two institutions."]

Answer 10

They were the idiots that wasted their and OUR money. Let THEM suffer the consequences.

I do not wish to throw away more good money after that lost due to their stupidity.

Our Government has wasted so many TRILLIONS of $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$... that we cannot conceive of how to dig ourselves out of the hole they have created.

And SOME want those INCOMPETENT b***s to ruin our health care system also!

FIRE THEM ALL! Vote them out of office and MAYBE their replacements will know we will be watching THEM!

Answer 11

The standard republican scam:  Bush talks about "everybody should own their own house" (2003) - bankers are given the green light to start throwing money in every direction - they make BIG BUCKS.

Then when the loans go bad the bankers can repossess peoples' houses - and they make BIG BUCKS!

The Bush family has bought in, but they go bankrupt on their deals - they walk away with BIG BUCKS.

Then the taxpayers are told they have to bail these outfits out.  And if the democrats drag their feet at all then the entire Depression caused by Bush is blamed on the democrats.

It's seamless - and it for the republicans and the Bush family it means BIG BUCKS!

Should we bail out the republicans?  No - but they'll get bailed out anyway.  That's the way this scam works!

GoBama!  Let's Clean Up Li'l Bush's Mess.

Answer 12

I can't freely answer to your question

because if I do then all low life they will report me

and my account will be suspended

Americans kill the freedom of speech...