federal gov't announce takeover of mortgage giants

The Bush administration, acting to avert the potential for major financial turmoil, says the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.

[Frothdude]

The Vice Chairperson of Fannie Mae was one of Bill Clinton's top advisors.She supposedly suppressed important information pertinent to the 911 incident. Shouldn't somebody be asking somebody a few questions instead of bailing them out. Fannie Mae chose to take chances with clients money and now I with my tax dollars will help to bail them out. I thought Capatalism was about failures and new companies, competition. A company that makes poor choices in a capatalistic society should not be bailed out, then it is not capatalistic.

[uncle dud]

Bankers in China feel much better now, not that they ever really worried about it.

[Jones]

The Bush administration had no other choice but to takeover the Fannie Mae and Freddie Mac that recently lost billions of dollars every month. It was the failure of US Congress that allowed mortgages to anyone that requested it without checking if he can pay it back according to the Community Re-investment Act (CRA) that was approved by US Congress and signed by Bill Clinton.
It was the recklessness of Bill Clinton in 1997 and his effort to buy votes of the poor American minorities and illegal immigrants behind the new Community Act that promised mortgage to everybody even if it was known that he was not able to pay it back.
The result was that banks like Fannie Mae and Freddie Mac spread money like drunken sailors without caring about tomorrow as US Congress demanded to help ’the poor’ with mortgages that they cannot afford to pay back like in socialistic countries.
It is now clear that Clinton, Bush, and US Congress allowed the bad loans to go on until the bad loans started to hit the banks back.
Now it is the American people who were asked to pay the bill for the corrupt politicians that purchased their votes on the back of the American people taxpayers.

[james]

uncle dud wrote:

Bankers in China feel much better now, not that they ever really worried about it.

Just like the Chinese said to top american businessmen' thanks for the economic advise but we have our own ideas on how to run a business. Given the terrible shape these so called Harvard, Stanford, etc,etc wizzards, business ceos and top managers have put many american companies in, why would anyone believe a word these lieing, cheating, know nothings say. Fire them all and take away their bonuses. That especially goes for the american auto and banking industry.

[stemue]

this has to stop. let the chips fall were they may. don't reward for bad judgement&poor performance

[Foxes In Hen House]

The Foxes are in the Hen House and we are all going to pay for their carnage.

[314neer]

lol .. there is more to come out of these wonderful 8 years ... and if we are lucky we will get MORE of the SAME . So make sure you know who your community organizer is :)

McCain/Palin 08' <<<< lol

[314neer]

uncle dud wrote:

Bankers in China feel much better now, not that they ever really worried about it.

Why worry .. I wonder who is paying for this WAR mmm maybe China lol ...sure they are worried ... If you OWE me money I want it :)

But I'm sure BUSH will let US pay for it :) Since he has a MBA an can run a business .... Less Gov't right :)

[Adam Smythe]

Maxine Waters wants the Government to take over the "Big Oil Companies". She said “guess what this liberal would be all about? This liberal would be all about socializing -- uh, uh, would be about basically taking over and the government running all of your companies.” In the videos you can hear her own associates laughing in the background. She's a typical simian, Marxist, Castro loving, kill all white people congresspersonage.

[Kerdy 1]

Stupid, thats all I can say. I just hope that when I screw my own finances beyond repair the Government bails me out too.

[albe a horses petootie]

Wow, reminds me of Savings & Loan scandal redux, A resolution trust might help , ha ha ha.
The GOP just loves transferring taxpayers funds to corparations and their ilk,
Funny how GOPers always say the dems increase debt & deficits, isn't it?
Financing corporations with taxpayer funds how fresh, how naive .
Stop taxation ;it is all theft by the rich from the poorer, Robin hood has very little to do with this fairy tale

[NDXUFan]

stemue wrote:

this has to stop. let the chips fall were they may. don't reward for bad judgement&poor performance

Agreed. Why should we share in the responsibility and not the profits???

[NDXUFan]

Wow, reminds me of Savings & Loan scandal redux, A resolution trust might help , ha ha ha.
The GOP just loves transferring taxpayers funds to corparations and their ilk,
Funny how GOPers always say the dems increase debt & deficits, isn't it?
Financing corporations with taxpayer funds how fresh, how naive .
Stop taxation ;it is all theft by the rich from the poorer, Robin hood has very little to do with this fairy tale.

Fannie Mae and Freddie Mac were the ideas of your friends. It is your friends, Democrats, who ran this company into the ground. Franklin Raines and Jim Johnston were some of the fat-cat executives. They had the money to pay at least $1million dollars to 21 executives. Fannie Mae and Freddie Mac, failling, sorry, about your luck, Chuck.

[leo from shanghai]

why not approve statehood for UNITED KINGDOM(england, wales, scotland)? the uk on verge of bankruptcy do housing bubble scam. prime minister gordon brown(brownie the bilderberg boy) ready to join ousted fannie and freddie ceo's.

[carey529]

314neer wrote:

lol .. there is more to come out of these wonderful 8 years ... and if we are lucky we will get MORE of the SAME . So make sure you know who your community organizer is :)
McCain/Palin 08' <<<< lol

Instead of just parrotting liberal hate, explain to me how this was George Bush's fault.
btw, the guy who rode Fannie Mae into the ground was Obama's vetting chairman, until his scandolous behavior was made public. Ya think HE was in cahoots with Bush, or, MAYBE, it was just a bit more BAD JUDGEMENT from the "prince of change"??

[carey529]

314neer wrote:

<quoted text>
Why worry .. I wonder who is paying for this WAR mmm maybe China lol ...sure they are worried ... If you OWE me money I want it :)
But I'm sure BUSH will let US pay for it :) Since he has a MBA an can run a business .... Less Gov't right :)

And WHO do you think is going to pay for the war Obama wants in Afganistan?

[Global Lovers]

Global Stocks Rise on Fannie, Freddie Takeover; Treasuries Drop
http://www.bloomberg.com/apps/news...

Well...all those who are always worried about the world "liking" us should be ecstatic since we have, in effect, screwed ourselves to the pleasure of the rest of the world - again.

And I remind you, the beginning of this fiasco was Jesse Jackson demanding loans for minorities who couldn't met established lending standards - and the Clinton adminstration ordering Fannie Mae, Freddie Mac and other lending institutions to loosen their requirements.

http://www.cnsnews.com/public/content/article...

[eternal cynic]

carey529 wrote:

<quoted text>
And WHO do you think is going to pay for the war Obama wants in Afganistan?

You mean the war started under the Bush administration?

[just candid]

Global Lovers wrote:

Global Stocks Rise on Fannie, Freddie Takeover; Treasuries Drop
http://www.bloomberg.com/apps/news...
Well...all those who are always worried about the world "liking" us should be ecstatic since we have, in effect, screwed ourselves to the pleasure of the rest of the world - again.
And I remind you, the beginning of this fiasco was Jesse Jackson demanding loans for minorities who couldn't met established lending standards - and the Clinton adminstration ordering Fannie Mae, Freddie Mac and other lending institutions to loosen their requirements.
http://www.cnsnews.com/public/content/article...

Citizens are not supposed to remember things like that, now behave yourself. As I recall that other simpleton, Al Sharpton yackked the same type bull along with the right Rev.Jesse.

[uncle dud]

314neer wrote:

<quoted text>
Why worry .. I wonder who is paying for this WAR mmm maybe China lol ...sure they are worried ... If you OWE me money I want it :)
But I'm sure BUSH will let US pay for it :) Since he has a MBA an can run a business .... Less Gov't right :)

Chinaman know we cover bad dept, & he no lose money because we need more credit to buy more junk from him & we can no do unless he loan us money which he do because we say we cover our bad dept to him. See how simple economics 101 is ?