It is done. Thank you taxpayers!!! (vote, illegal, Obama, McCain)
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Preferred shareholders (aka Wall St. boyz) will be made whole.
Thanks Comrade Commissar Bush for signing the bill that allows tapayers the privilege to buy up worthless shares of two defunct companies (Fannie/Freddie) and for showing those capitalist pigs that free markets do NOT work.
This loyal servant of the State only wishes to know whether he may sing for your glorious Red Army Choir.
When you buy your next house, be sure to thank our glorious leaders for approving your mortgage.
And you can thank GOP lawmakers. Back in the 90's they led the effort (along with a minority of bad Dems) to deregulate the mortage lending industry. Mortgage lenders were no longer required to have a certain amount of hard deposits on hand like banks still do. Banks are doing fine. (to the extent they stayed away from mtg lending). And mortage lending became a big scam where their risk is carried by the tax payers.
Yet another example of a failed ideology that says everything must be "deregulated". Thank you Phil Gramm, fellow GOP cronies, and spineless Dems.
And you can thank GOP lawmakers. Back in the 90's they led the effort (along with a minority of bad Dems) to deregulate the mortage lending industry. Mortgage lenders were no longer required to have a certain amount of hard deposits on hand like banks still do. Banks are doing fine. (to the extent they stayed away from mtg lending). And mortage lending became a big scam where their risk is carried by the tax payers.
Yet another example of a failed ideology that says everything must be "deregulated". Thank you Phil Gramm and fellow GOP cronies.
I just find it hilarious (in a sad way) that from here forth, our mortgage market is MORE socialist than Europe's.
Here is a GOP comment for you. I am glad to see comrade Bush leave the station. Who but the taxpayers ever picks up the tab for the government? Last time I checked they were not growing money on trees, just printing presses working overtime.
Here is a GOP comment for you. I am glad to see comrade Bush leave the station. Who but the taxpayers ever picks up the tab for the government? Last time I checked they were not growing money on trees, just printing presses working overtime.
And who but the taxpayer will pay for all the government programs obama proposes?
This is terrible, but it's not a reason to vote for obama. Be sure of that.
Your not the only one.Lenders and shareholders have been ignoring the bubble for at least 2 years and have been giving ARM's to anyone breathing, legal or illegal.
But hey all the corporate fat cats bailed with their profits and golden parachutes before the nosedive and left us taxpayers a nice going away present that we can cherish for a very long time.
Quote:
Originally Posted by ViewFromThePeak
Congrats! Have an archived posting from February on the same matter. Fannie/Freddie will go BK and the gov't will try to prop it up.
Of course, this sucker is too big to bail out, but we don't have to worry about that until AFTER the election .
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