U.S. seizes Fannie and Freddie »
Posted By david_nwpa 10 months ago in Business & FinanceNEW YORK (CNNMoney.com) -- Federal officials unveiled an extraordinary takeover on Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, signaling the most dramatic move to date aimed at shoring up the nation's housing market.
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david_nwpa
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david_nwpa10 months ago
People who own their homes with mortgages through Freddie and Fannie will continue to make their payments. However, should they make the check out to the Federal Government? I wonder if the two top chiefs will receive golden parachutes to escape, or will they be lucky to get out of their offices with their name plates and their tails tucked between their legs. It is outrageous that both of these housing giants would make loans that were wobbly at best. It will be even more outrageous if the bill for their collapse lands on the taxpayers.
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tehranchik10 months ago
Headline at bottom of article:
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"Fan, Fred rescue cost: Think billions" -
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quackpot10 months ago
Hunderds of billions to Bear Sterns
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Hundreds of billions to other Wall Street characters
Hundreds of billions to Freddie/Fannie
When will the call for corporate welfare stop and a call for corporate responsibility begin?
Seven-plus years of decreasing regulation has brought the tax payers a lump of coal for Christmas while Paulson's Wall Street friends get a nice bail out. -
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markmawn210 months ago
This coming from the people who HATE government intervention in business!
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To All you Big Governent haters, WAY TO GO! CONGRATULATIONS! The administration you supported tooth and nail has just made it bigger and more bureaucratic than ever! And their borrowing from China to do it! BRILLIANT WORK!
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