Skip to comments.U.S. rescues Fannie, Freddie
Posted on 07/13/2008 3:31:33 PM PDT by Sleeping Freeper
U.S. rescues Fannie, Freddie Treasury Department raises credit line, has power to buy companies' stock. Fed will open discount-lending to two government-sponsored mortgage lenders. Paulson calls for new regulatory controls.
(Excerpt) Read more at marketwatch.com ...
I predict oil will fall due to the 2 Iran hoaxes being debunked...
and this move will cause the markets to rise.
More detail here:
Futures shot UP on the news. It baffles me.
They are too big to fail. Any Fed who would let them fail ought to be shot.
I wonder if there is anything they can do for Bernie. He has brought down the wrath of the Messiah on himself.
And the destruction of the American dollar continues....
Can you imagine what the oil speculators had to pay to get the Iranian military to pull of that stunt?
I don’t get it... the price of gold hasn’t gone anywhere according to kitco.com... I sort of expected a rise in gold when the Feds bail out Freddie Mac and Fannie Mae...
It’s only money.
They are probably sticking it to the short sellers.
The fake missile launch or the fake news of IDF staged at US bases in Iraq?
RE OIL PRICE:
tropical system getting organized in the mid Atlantic, conditions very favorable for development..some long range models and current upper air pattern suggest that it will move into the carribean then maybe the into the gulf
They have a great gig, their profit is privatized but their risk is socialized. Beautiful for all except the taxpayers.
If we’re going to rescue Fannie and Freddie, then we need a **PUBLIC** audit of their books.
The bonuses that they have paid out to Democratic Party political hacks need to highlighted, too.
They should bail them out, only if Franklin Raines and Jamie Gorelick are forced to return the money they essentially stole from the shareholders.
Is this good or bad???
There’s always someone looking to dump some bad debt caused by poor decisions on the US taxpayers. God forbid they’d actually have to be RESPONSIBLE for themselves for a change.
I saw an expert on Cavuto a while back say one storm in the Gulf and you’ll see gas at $10 a gallon. I wonder what the price has to be for minimum wage workers to say, “That’s it. I can’t afford to go to work”.
|we need a **PUBLIC** audit of their books.
Why not use the audited financials in their 10-K? That's a public document, right on the web. For free.
It's bad. This morning the news was that Treasury would explain that everything was okay and there was no need to panic. Now they've moved on to needing to "do" something to prevent the panic. 3 billion in short term bonds goes on sale tomorrow, as scheduled, and if there are no buyers, then there is a significant problem.
Not to worry, though. These corporations are backed by the earning power of the US taxpayers.
Because I don’t trust what’s been put together in private.
Fannie and Freddie need new audits, done in full public view.
That’s not a lot to ask.
And the taxpayer(s-) get the shaft again, and again......
GM and Ford are next. Both are near death at this moment, with their bonds trading like junk and their stocks nearly worthless.
I already have people turning down jobs 15 miles from home that pay $15 because, after gas, they don’t think it’s worth it.
“New regulatory controls” always scare me. Could someone explain to me just how much the Federal Reserve is a government agency, and how much it is a private company? Because I especially don’t like a private company being in charge of regulation.
Sadly enough you are right since it was the Federal Government helping promote this issue with inane laws dictating that loans need to be given even to those not capable of personally handling the loans that they WANT.
Hundredth verse, same as the first.
I can’t figure out anymore why futures keep going up. Futures go up because of tensions with Iran, futures go up when we discover Iran is bluffing in the stupidest way. I don’t think there is rhyme or reason to it anymore.
Soon to be worth much less....
Between the borrowers and lenders, everyone else lived the high life while you and I stayed in our modest, affordable homes and now we get to bail them out. Yay us.
I don’t think we should help the foreclosure problem or the banks that got in this mess.
Perhaps inflation is thought to be even more important than the Iranian situation?
Audits are done by public accountants who are certified to perform them. What other audit do you propose?
You bring too light a very dangerous fiscal disaster on the horizon. Welfare rolls are cheaper than “pay-roll’s” for the low income sorts that “WERE” working for their role in the economy.
Works for me; take away all their money too;
And find a taxpayer who, in the long run, is going to be better off because of the continued government bailouts of poorly run and managed companies.
“Treasury, Fed move to rescue Fannie and Freddie”
Obama isn’t going to bring us Socialism. It’s already here IN FREAKIN’ SPADES!
With the stimulus package and recent string of bailouts I’d swear we are in the midst of a second “New Deal.” I wonder if that is such a bad thing considering that there is so much uncertainty in virtually every sector of the economy. Let the executive and legislative branches kick a little ass and protect American interests through strategic initiatives that helps US in the short and long term.
People practice one entry accounting. They pretend every raise they ever got was merited as a real increase, but the nasty financiers and gubmint went and mucked everything up and took half of it back through inflation and what-not. Nobody ever thinks the first part was about as much due to more money sloshing around as to anything they did themselves.
Its only paper, print more and bail everything out.lets send everyone a check for $1,000,000 and end the recession right now!
Everyone is still trying to pretend we can just wish it all away and ignore it and do whatever we like. But meanwhile, at present prices the proven oil reserves of just the countries on the southern side of the Persian gulf, are worth more than all the world's stock markets, combined. A few hundred Arab princes can buy our entire financial system tomorrow for a song, if they decide they want to.
Ignoring it just means surrendering and losing, it won't make any of it go away.
The Treasury may not let them fail, but in doing so I hope the equity is wiped out or minimized to $1.00.
It is not oil speculators. It was Putin, Chavez, and the Ayatollah who liked the dog and pony show.
If nobody attacks Iran's nuclear program, Iran will get nukes and use them - and oil will be going up like a rocket the entire time. Along the way, Arab oil money will buy the entire modern west and we will all have the choice of working for them forever, or trashing capitalism to take it back.