Just some observations on this rainy Saturday morning...
Did Fannie & Freddie collapse, or were they shot down? Were bombs planted inside these entities?
On 9/11 the twin towers went down. Now the twins, Fannie & Freddie, are going down and are be taken into conservatorship by our government.
...A conservatorship is like “bankruptcy”.
You may not find the news on the front page… more like on the second page of your newspaper. The news is being played down which really makes me nervous; but, there’s nowhere to hide for giants on the way to the ground.
It will be interesting to see if the “preferred shares” are protected. I’ll bet they are.
The good news for McCain and Obama is that the giants won’t fall under their watch. They will just get all the headaches.
When the government says it’s going to cost the taxpayer millions, you’d better watch out! You know it will more than likely end up in the Trillions. More than likely, it will end up costing the taxpayer more than the Iraq War.
Fannie & Freddie hold one-half of the country’s mortgages. Think about it!
You still think “government-sponsored” healthcare is a good idea?
Social security is bankrupt, our government sponsored enterprises are bankrupt… and noone has gone to jail.
Just some observations with no insider information; just some good 'ole common sense.
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Front page but second headline of the business section, announcing the rumors of some type of quick action on Monday.
Or just a rumor.
Action maybe forced by implied threats by investors not to participate in upcoming bond sale of $225 billion short term debt.
BTW, the big business section headline was a review of the negative reception of the new Seinfeld advertisement for Microsoft.
I can see why that should take precedent over the possible final collapse of Fannie and Freddie.
Thanks,
Richard
This Headline Should Have Been on the Front of every newspaper in America.
"Taxpayers Being Fleeced by Fannie & Freddie Bailout"
Fannie & Freddie account for almost half of the $12 trillion mortgage market. Let's see... 1/2 of $12 Trillion = $6 Trillion. Common shareholders will lose their money. Preferred Shareholders (the Chinese and 62 banks and the other elite) will be favored by Paulson... in my humble opinion.
The mismanagement of the GSE's (and other entities) is criminal. There should be a lot more folks under federal indictment, but they'll go free and we'll pick up the bill. Ticks me off every time I think about it. Where the devil is the accountability?
Jan
I believe anything stamped government these days can be scary. The problems these two entities have experienced lately started years ago and I smell a rat somewhere. It will be a big fat one, or two or...
Jan, I'm working on my response to this development. You know it will begin with the Fed.
I really wasn't shocked to see that you tackled this one.
Bill Roberts
Jesse: Paulson & Bernanke have now turned the USA innto a Socialist State! Greenspan was the first instigator. There should be a full investigation into this ruse.
Trey: They are all in their rat holes; but, you can be sure, someone will investigate this...
Bill: This is the greatest Nationalization in the history of mankind. The biggest beneficiaries of this takeover was Wall Street with their big money playing Congress like a fiddle. Keep your hand on your wallet... the thieves are agressive and don't mind stealing from you in full daylight.
Jan ~ Well said, but that is the whole idea. Obama wants government to take over everything, that is his solution. But it is the problem.
Nicholas: Watch Lehman Brothers... then keep an eye on the 3 Automakers, Merrill Lynch and a bunch more financial institutions and the airline industry. It seems as if the democrats want to Socialize us, but, I believe there are some that want more than even socialization... more like a communistic state. We have beening kamikazied (?) by people I don't trust.
Jan ~ Sadly, I agree wholeheartedly. Great to see you again, I have nt seen you much lately. Have you not been posting to Silent Majority?
Nicholas: To tell you the truth, the last 1-2 years, have just about worn me out. I've been taking a break this summer. I've posted a couple of times to Silent Majority, but I haven't posted much at all in the last 3-4 months. I'll try to do better. Thank you for asking and being a concerned friend.