Trump Admin Proposes to Privatize Fannie and Freddie (Obama, lobbyists, lobby)
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The Trump administration proposed on Thursday an end to the conservatorship of Fannie Mae and Freddie Mac, which would move the government-sponsored enterprises (GSE) into the private sector.
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The changes aim to “ensure more transparency and accountability to taxpayers, and to minimize the risk of taxpayer-funded bailouts, while maintaining responsible and sustainable support for homeowners.”
I know Fannie and Freddie were in the news during the financial crisis, that's why the general populace knows about them. But what about other mortgage related quasi-private enterprises? Ginnie Mae, Farmer Mac, etc.
The changes aim to “ensure more transparency and accountability to taxpayers, and to minimize the risk of taxpayer-funded bailouts, while maintaining responsible and sustainable support for homeowners.”
This would be a good thing.
To minimize the risk of bailouts.....does Trump not understand that Bush nationalized them in order to bail them out?
I know Fannie and Freddie were in the news during the financial crisis, that's why the general populace knows about them. But what about other mortgage related quasi-private enterprises? Ginnie Mae, Farmer Mac, etc.
they also all need to be privatized.
Quote:
Originally Posted by Finn_Jarber
To minimize the risk of bailouts.....does Trump not understand that Bush nationalized them in order to bail them out?
given trumps foresight, i think he does understand, and i think that is why he wants to privatize them again.
The Trump administration proposed on Thursday an end to the conservatorship of Fannie Mae and Freddie Mac, which would move the government-sponsored enterprises (GSE) into the private sector.
…
The changes aim to “ensure more transparency and accountability to taxpayers, and to minimize the risk of taxpayer-funded bailouts, while maintaining responsible and sustainable support for homeowners.”
And since republicans practice trickle down/supply side economics these privatization policies will most likely be designed to help investors. For example, the Trump tax cuts raised workers income by 0.8% and raised the richest 0.1% of Americans income by 14.2%. https://www.forbes.com/sites/janetno...nalysis-finds/
Since Washington lobbyists privatization plans have the government responsible for 90% of the mortgages, republican privatization policies will most likely leave the government 90% responsible for the mortgages (the mortgage industry will simply get more freedom to make money from consumers.)
Actually I am for nationalizing it and making the profits a tax that replaces income tax. It would simply be a national property tax with market forces. However anything is better than profit side capitalism and loss side socialism.
The Trump administration proposed on Thursday an end to the conservatorship of Fannie Mae and Freddie Mac, which would move the government-sponsored enterprises (GSE) into the private sector.
…
The changes aim to “ensure more transparency and accountability to taxpayers, and to minimize the risk of taxpayer-funded bailouts, while maintaining responsible and sustainable support for homeowners.”
This would be a good thing.
This will make money for many people in Trump's aura
One reason Mnuchin went to work for Trump was to pressure this outcome
Actually I am for nationalizing it and making the profits a tax that replaces income tax. It would simply be a national property tax with market forces. However anything is better than profit side capitalism and loss side socialism.
the problem is that the government cant make money, they can only spend it in huge amounts. take the mustang ranch in nevada for instance. the owner failed to pay his taxes, so the IRS stepped in and took possession of the business, and in the course of running it LOST MONEY. if you cant make money selling alcohol and sex, then you are certainly a poor businessman, and the government is a poor businessman.
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