Fannie and Freddie: What You Should Know

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It is very sad to see that all around us land, building and human lives are degrading all around us. The American Dream was never about and should have never been that you made money off of your home; the American dream was that after you lived in your home for X number of years (30).The dream was you pay off your mortgage so you could retire in your home and not have to pay a mortgage or a rent. Now no one can do that anymore.
The reason people lost their homes in the Great Depression,was because mortgages were only given out for 5 years and in those days, you had to put fifty percent down in order to get a mortgage. People then not only lost their homes, but also their life savings.
(Sounds familiar, does't it?) What's the value of capital. The value of capital is its value to create.
We should stop subsidizing farmers, banks, airlines, insurance companies and make them all work for a living; like each and everyone one of us do.Then our money would be worth something again. Oh and did I mention that landowners and landlords that have excess capacitance on holdings should probably get taxed, just like merchants with excess inventory. Then you'll see a much stronger dollar.
If the government really wanted to prime the pump to stimulant into the economy; then it would have been better off giving the money to Mr. Fred and Ms. Fannie America the true dreamers, small business owners and pioneer entrepreneurs who sweat, for a living. Making an honest living and not dream of how to swindle people out of their money with chopped up Ginsu mortgages.

Bernard J Lichtenstein, M.D. of CA 2:37AM April 10, 2009

Whats the fuss?-bailed out banks,railroads, airlines,insurance
companies and left same-o management in place in 1958, 1968
1979, early 90's. Remember when FNMA-FMAC were gov't controll-
ed,Taxpayer owned)"deregulated" by current president-transferr-
ed taxpayor assets to Who-hhh! Remember early 90's after the bailout--The chant from lenders"Lets do it again"-and "drip n
Drooled" they did. And shut up cause when dust settles-They
will have their way again--cuzz on good day best Americans can
do is just scratch themselves. You turned a head the otherway so suck it it up.
If up to me-let them fail. Let the scum shake out.

Frank Jensen of NV 4:46PM September 25, 2008

Now that the government totally owns mortgages and continues to foreclose on them:
Question:
Is the idea to create homes for the homeless by emptying houses?
Or does emptying the houses just create more homeless?
Answer:
Yes and no on the one hand, no and yes on the other.
It's called the Washington merry-go-round.
The lifetimers keep getting your vote by telling you they are the one's to throw the bums out and change Washington.
The sad part is that all of the above is true!

HillbillyBill of TN 9:04AM September 09, 2008

In the history of housing mortgages, we never saw the appreciation at the crazy rate as of the last few years (2001-2006), What were all the CEOs, and economic experts thinking? Why Mr. Paulson didn't say anything then? Now he thing the best for our country is to bail out these two F&F with our taxes !!!!!!! I bet you any money, these experts still got paid million of dollars as we speak. So so so so..... sad

David Dao of CA 3:46PM September 08, 2008

What is wrong with this country???? Let’s help the heavy hitters who have made BILLIONS of dollars taking and taking from the American people over the years. Let’s see.... now they are having financial problems (because of shady practices) and can no longer rely on bleeding the American people because we are all broke! Let’s just bail them out with money this country really does not have. O yeh it’s a thing called credit. How much do we owe China now? When the time comes for them to start making BILLIONS of dollars again (any they will) what do we get in return for giving them money that is desperately needed for other things? I faithfully pay my taxes and this leaves me wondering.... Why should I be ok with this bail out (after all this is a privately owned company) when my children attend PUBLIC school and I have to pay fee after fee after fee. Public schools are becoming more private everyday. Some of them can no longer provide transportation. Not to mention the price of groceries, gas, electric, insurance, taxes, and current mortgage rates. Why did they not lower mortgage rates before?Instead they were trying to beef up their portfolios with as much profit as possible. Now they have realized this can not be milked anymore so let’s call in the Feds. The funny thing is the government is talking about making money from this bail out when all is said and done. Yep they are going to make money alright, from all the families that could not keep up. The families that lost their jobs to over seas companies, lost their homes to foreclosure, lost their respect for this American government to do the right thing FOR THE PEOPLE! Where is the BAIL OUT for the people? The government tells us.... OO so sorry there is nothing we can do for you, your just a little guy, but if you owned a billion dollar operation we could take over and even make some profit for you in the long run. They talk about the housing reform. You get a $7500 tax credit to purchase a home, but you have to pay it back with interest. Do Fannie and Freddie have to pay it back with interest? If you look around everything that made this country great is slipping away and no one cares because we are all worried about how to keep up. They want us to believe if the government does not take over the U.S economy will collapse. Well I call it as I see it and the economy has collapsed. When people you have known all your life lose the home they have been in for 35 years, that’s a collapse. When schools can not afford to pick up their students because the price of gas, that’s a collapse. When people freeze during winter months because they can not afford a $700 electric/oil/gas bill, that’s a collapse. When people are starving and surviving off of raman noodles and water, that’s a collapse. When people are having their cable, cell phone, internet and even home phones shut off because they can no longer afford them, that’s a collapse. Hey Uncle Sam, don't forget about the little guys!!!!!!

Dee of OH 3:15PM September 08, 2008

The bailout helped the major US banks to allow to continue
to secure mortgage and high pressure folks into uncertain house
purchasing to boost banks profits and allow them to contribute
more for the elections ....etc.
It also helped the US government to pay nothing to the
shareholders, but force the share prices below a dollar by
initiating an engineered "media-harmonic" performing the negative rumors to prepare for the worst and most brutal
event in the US History, the GSE TAKEOVER. STALIN would
congratulate Paulson for his act to serve the ones he can
thank his personal wealth for. Morgan Stanley served well
their own interest as "independent" advisors.
What happened to America? The declining realestate market
was noticed in 2004. What were this people doing, planing
on an opportunity to take down Fannie and Fradddie by appointing
two low IQ CEOs ? America ought to take you all to court

attla l vereb of NJ 1:29PM September 08, 2008

The bailout helped the major US banks to allow to continue
to secure mortgage and high pressure folks into uncertain house
purchasing to boost banks profits and allow them to contribute
more for the elections ....etc.
It also helped the US government to pay nothing to the
shareholders, but force the share prices below a dollar by
initiating an engineered "media-harmonic" performing the negative rumors to prepare for the worst and most brutal
event in the US History, the GSE TAKEOVER. STALIN would
congratulate Paulson for his act to serve the ones he can
thank his personal wealth for. Morgan Stanley served well
their own interest as "independent" advisors.
What happened to America? The declining realestate market
was noticed in 2004. What were this people doing, planing
on an opportunity to take down Fannie and Fradddie by appointing
two low IQ CEOs ? America ought to take you all to court

attla l vereb of NJ 1:19PM September 08, 2008