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Old 09-07-2008, 07:46 AM
 
Location: Raleigh, NC
9,059 posts, read 12,978,729 times
Reputation: 1401

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Candidates Weigh in on Fannie, Freddie - Politics and Government * US * News * Story - CNBC.com

At a rally in Colorado Springs, Col., Republican vice presidential nominee Sarah Palin said, "They've gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

WTF does this mean? The government should MAKE them smaller? How about the government LET them shrink to nothing?

It's just more warm fuzzies and nonsensical talk about smaller government. They hold $4T of largely junk rated mortgage debt. What on earth does it mean to make them smaller?

Yeah, I know Obama supports a full bailout, but I don't care what the Dems have to say. What I care about is this: will McCain use his brain?
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Old 09-07-2008, 07:51 AM
 
9,124 posts, read 36,398,397 times
Reputation: 3631
Quote:
Originally Posted by ViewFromThePeak View Post
WTF does this mean? The government should MAKE them smaller? How about the government LET them shrink to nothing?
She doesn't know what it means- she's just repeating what someone told her to say........
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Old 09-07-2008, 07:52 AM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 7,413,772 times
Reputation: 882
What is obama's plan on this? Perhaps like everything else he intends to tax the productive folks more to help pay for those who didn't plan properly?
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Old 09-07-2008, 07:53 AM
 
Location: Raleigh, NC
9,059 posts, read 12,978,729 times
Reputation: 1401
Quote:
Originally Posted by BobKovacs View Post
She doesn't know what it means- she's just repeating what someone told her to say........
"Make government agencies smaller" is a nice sound bite for Republicans, I can't necessarily disagree with it, but Fannie/Freddie until today were not government agencies.

They are sidestepping the issue of nationalizing the mortgage industry. They don't want to say they support it, they just want to say what they'd like to do in the event they are government backed.
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Old 09-07-2008, 07:54 AM
 
3,255 posts, read 5,082,611 times
Reputation: 547
Quote:
Originally Posted by bbkaren View Post
What is obama's plan on this? Perhaps like everything else he intends to tax the productive folks more to help pay for those who didn't plan properly?
McCain agrees to fund the bailout as far as I have heard.
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Old 09-07-2008, 07:54 AM
 
Location: Raleigh, NC
9,059 posts, read 12,978,729 times
Reputation: 1401
Quote:
Originally Posted by bbkaren View Post
What is obama's plan on this? Perhaps like everything else he intends to tax the productive folks more to help pay for those who didn't plan properly?
Told you that I don't care what Obama says. McCain voted for Paulson's bazooka and Paulson is going to blow away the dollar with it as of today.

Gold prices are going to Pluto.
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Old 09-07-2008, 07:58 AM
 
9,124 posts, read 36,398,397 times
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Let's bear in mind that while many of the mortgages held by Fannie and Freddie probably should never have been written, there are also thousands of others that are being held by people who aren't having problems making their payments, but are in jeopardy if the agencies go under. This isn't to say that we should go in and just throw money at the situation until it's fixed, but we can't just let them go under either without wreaking alot of havoc.
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Old 09-07-2008, 08:54 AM
 
4,104 posts, read 5,313,256 times
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Quote:
Originally Posted by BobKovacs View Post
but we can't just let them go under either without wreaking alot of havoc.
Why not? Why should the taxpayer pick up the tab for somebody elses bad decisions? The types of loans that are in trouble should not have been underwritten by anybody.
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Old 09-07-2008, 08:58 AM
 
Location: Raleigh, NC
9,059 posts, read 12,978,729 times
Reputation: 1401
Quote:
Originally Posted by NewMexicanRepublican View Post
Why not? Why should the taxpayer pick up the tab for somebody elses bad decisions? The types of loans that are in trouble should not have been underwritten by anybody.
Some apologists believe that if we don't prop them up, lenders will go bankupt, credit will dry up and our citizens will resort to cannibalism.
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Old 09-07-2008, 10:13 AM
 
382 posts, read 590,099 times
Reputation: 125
Sounds like the plan that we have seen for the last eight years.
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