Let Fannie and Freddie Fail?

Reader Comments
Back to blog

Did they bring in the right people to turn this boat around? Not so sure they did.

of NY 4:10PM September 11, 2008

Out of the question, but those of us that remember WWII days were happy that we did not owe our future to Japan, China, Saudi Arabia or anybody else.
We remember that Americans financed that war with War bonds, Savings bonds, Victory bonds.
We didn't emerge from that one owing anybody but ourselves!
Even school children bought savings stamps and glued them into the stamp books until filled and then they were converted into $18.75 bonds that paid $25 at maturity.
Parents bought higher denomination bonds when they could afford to and Americans owned their own government.
Jimmy Carter urged a program of energy bonds patterned after the above in his July 15, 1978 televised speech (google it) as a way for Americans to help finance our way out of today's addiction to oil.
Common sense ideas do not stand a chance against big money interests.

HillbillyBill of TN 8:14AM September 11, 2008

Unfortunately a Democratic Congress and a Republican President signed this free money backed by the American taxpayers bailout to the tune of 5 trillion. Fannie and Freddie were only 50% of the secondary market, let the other 50% of the market decide what to do, not the government. Republicans use to be for less government fortunately McCain wants to make sure that [the two companies] are permanently restructured and downsized and no longer use taxpayer backing to serve lobbyists, management, boards and shareholders.
To have given the government a free hand to tax payer funds is a crime, there should be a Senate investigation on this stupidity! Unfortunately the idiots are running the asylum!

Simon Sez of CA 9:58PM September 10, 2008

Well, what did you expect from Republican government? Indemnifying the private sector with public guarantees is all they know. Privatize the profit. Socialize the losses.
Why in the heck were Fannie and Freddie not actual government agencies from the beginning? Would that have cost more than what you're seeing now?

of 11:50AM September 10, 2008