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Old 09-06-2008, 10:20 AM
 
31,683 posts, read 41,053,820 times
Reputation: 14434

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I mean regardless of who you are for this is serious stuff and neither side is talking about it or telling us their position. That right there should make us all say enough of this B.S. and start telling us how you will stop this downward slide regardless of who are what created it.
Government may soon back troubled mortgage giants - Yahoo! News (broken link)
WASHINGTON - The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.

This could cost tax payers billions and we all have our perspectives on how we got here but wouldn't it be nice for the candidates to share what they think ought to be next and how they will get us there?
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Old 09-06-2008, 11:06 AM
 
Location: Portland, Oregon
5,299 posts, read 8,258,578 times
Reputation: 3809
Judging from this article, we should have comments from the candidates shortly. Reminiscent of the savings and loan scandals, the American people will pay.

Clip:
Paulson gathered with Federal Reserve Chairman Ben S. Bernanke, FHFA director James Lockhart, Syron and Mudd in Washington. The Treasury plans to brief Democratic presidential candidate Barack Obama's campaign team today and has contacted Republican contender John McCain's staff about its intentions.
Bloomberg.com: Worldwide
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Old 09-06-2008, 11:09 AM
 
1,881 posts, read 2,685,729 times
Reputation: 361
Obama will not talk about it because one of his buddies made all those bad loans with Countrywide and he doesn't want to bring it out.

What we really need is to allow all of us to see any loans that are in foreclosures information so we can judge if the person did not manage their money or why they are in foreclosure.

If the liberals want us to bail out people then we have the right to know why they lost their home.
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Old 09-06-2008, 11:21 AM
 
479 posts, read 879,652 times
Reputation: 96
What are you talking about? Ever heard of Phill Gramm the man who called us a "nation of whiners"

Phil Gramm - Wikipedia, the free encyclopedia
Quote:
Originally Posted by smd1998 View Post
Obama will not talk about it because one of his buddies made all those bad loans with Countrywide and he doesn't want to bring it out.

What we really need is to allow all of us to see any loans that are in foreclosures information so we can judge if the person did not manage their money or why they are in foreclosure.

If the liberals want us to bail out people then we have the right to know why they lost their home.
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Old 09-06-2008, 11:22 AM
 
Location: Raleigh, NC
9,059 posts, read 12,975,389 times
Reputation: 1401
Quote:
Originally Posted by smd1998 View Post
Obama will not talk about it because one of his buddies made all those bad loans with Countrywide and he doesn't want to bring it out.

What we really need is to allow all of us to see any loans that are in foreclosures information so we can judge if the person did not manage their money or why they are in foreclosure.

If the liberals want us to bail out people then we have the right to know why they lost their home.
Bwahahahahahaha!!!!!

Your empty suit McCain approved and voted to give Paulson the dollar obliterating bazooka of nationalizing Fannie/Freddie. Meanwhile, he talks out the other side of his a** by saying he's against it.
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Old 09-06-2008, 11:25 AM
 
479 posts, read 879,652 times
Reputation: 96
I don't think either ticket could right this albatross. It will definitely take a lot of creativity and a lot of kissing pandering to the Chinese to help build confidence to ignite the foreign investment wheel again.But lets keep cutting those taxes for businesses and when they fail we'll just bail them out.
Quote:
Originally Posted by TuborgP View Post
I mean regardless of who you are for this is serious stuff and neither side is talking about it or telling us their position. That right there should make us all say enough of this B.S. and start telling us how you will stop this downward slide regardless of who are what created it.
Government may soon back troubled mortgage giants - Yahoo! News (broken link)
WASHINGTON - The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.

This could cost tax payers billions and we all have our perspectives on how we got here but wouldn't it be nice for the candidates to share what they think ought to be next and how they will get us there?
Reply With Quote Quick reply to this message
 
Old 09-06-2008, 11:28 AM
 
Location: Raleigh, NC
9,059 posts, read 12,975,389 times
Reputation: 1401
Fannie and Freddie are too big to be bailed out, but it'll take after the elections to fully appreciate this factoid. Home prices will continue to fall (in real terms, although nominally not so much) for a considerable time to come. NOTHING can stop that. The net pain will be greater but at a slower pace. Then again, Americans are used to buying now and paying later, so perhaps the economic pain being amortized comes naturally.
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Old 09-06-2008, 11:46 AM
 
31,683 posts, read 41,053,820 times
Reputation: 14434
Quote:
Originally Posted by ViewFromThePeak View Post
Fannie and Freddie are too big to be bailed out, but it'll take after the elections to fully appreciate this factoid. Home prices will continue to fall (in real terms, although nominally not so much) for a considerable time to come. NOTHING can stop that. The net pain will be greater but at a slower pace. Then again, Americans are used to buying now and paying later, so perhaps the economic pain being amortized comes naturally.
This is not a partisan issue and neither side has a position of much on it right now if at all. To try to attack one candidate of the other is not the intention of this thread. We are building more debt in the balance sheet and still have social security and medicare. As you say either candidate will be inheriting a mess and to argue who is more responsible is ridiculous because neither has been in a position to have prevented getting here. For us to try to score political points is to be blind to the issue and the fact that unless we get real bipartisan cooperation and not rhetoric this will just be one more major screw to all of us.
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