Should Fannie Mae And Freddie Mac go Independent? (Congress, salary, Obama)

[knowledgeiskey]

Do they still need to be endorsed by the federal government? Can they afford to go on their own? ]

[Winter_Sucks]

But then how will Newt make money lobbying for them?

[HappyTexan]

They were nationalized. They ARE part of the government now.
And taxpayers are responsible for the debt they accrued.

[Cletus Awreetus-Awrightus]

Originally Posted by knowledgeiskey

Do they still need to be endorsed by the federal government?

if you want them to survive, yes.

i think that's the question to ask -- what is the alternative to Fannie and Freddie, and how can we get there?

[KUchief25]

Our government decided to allow the taxpayers to take on their debt. And folks at OWS scream about evil bankers. LOL

[LetsRock]

Fannie and Freddie WERE independent until the govt took them over and dumped all the toxic debt on their books.

[AeroGuyDC]

Originally Posted by Cletus Awreetus-Awrightus

if you want them to survive, yes.

i think that's the question to ask -- what is the alternative to Fannie and Freddie, and how can we get there?

Freddie and Fannie were put in place to cover weak spots in the homebuying market. Where banks would gladly lend to people with acceptable credit and risk profiles, Freddie and Fannie would back loans to folks with lesser, but still nominally acceptable, financial standing. At least that was the intent until Congress corrupted the entire system with the "Free Love For Everyone" mentality.

The alternative to Freddie and Fannie is to NOT allow people with risky credit profiles to buy a house and reinstute PERSONAL RESPONSIBILITY into homebuying.

Time to rid this nation of the scourge of Government Sponsored Enterprises.

[summers73]

Originally Posted by Winter_Sucks

But then how will Obama fund his campaign?

Fix't.

[lifelongMOgal]

Originally Posted by knowledgeiskey

Do they still need to be endorsed by the federal government? Can they afford to go on their own? ]

Can they afford? No, they have come to the Government for yet another taxpayer bailout (while paying top executives over $1 million in salary + bonus).

The books on Freddie/Fannie need to be closed and people need to understand that they need at least 20% down if they are going to be homeowners/homebuyers. The experiment of government in the mortgage industry has FAILED!

[summers73]

Correct me if I'm wrong (with a cite or else it doesn't count), but isn't Europe even less socialist when it comes to buying homes than we are?