Bye Bye, Fannie and Freddie (unemployed, wages, Obama, economy)
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"The Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday."
"The Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday."
But won't this add a number of unemployed to our population?
Good riddance of some of Barney Frank's best tools.
"The Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday."
You mean the institutions that actually issue toxic loans will have to back them, not the public? How anti free market that would be.
As predicted, the free market overwhelms the government's ability to control it. The government will just put a spin on it, but in reality the money to back the loans is just out of reach for Uncle Sugar.
Isn't the US practically the only country out there that completely socialized the majority of all "home ownership" (in quotes because mortgage payers aren't really homeowners)?
Whoda thunk it? One of the far lefts favorite wealth redistribution programs on the chopping block under the Obama administration? Are there plans to replace them with another government cluster, or will government backing of private mortgages finally die?
Long overdue, and something I strongly support. Dang it, if Obama keeps doing things that make sense, I may actually have to become a supporter.
This is a good thing because Freddy and Fanny never were not designed to support homeowners but to guarantee profits for the big financiers so they could make certain everyone had a mortgage even if they could not afford it. If home ownership is such a fundamental part of our economic system then the marginal loans should be made directly by the government and collected directly from the wages of the borrowers.
"The Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday."
We need a total rethink of government. Do it right do it small and get back to building stuff here in America.
But won't this add a number of unemployed to our population?
Good riddance of some of Barney Frank's best tools.
wow. A republican (Bush) nationalizes F/F during his socialist tsunami, and now a democrat lets it die, as it should have been allowed to die back then.
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