Closing Fannie, Freddie could boost mortgage rates

Aug 7, 2013 Full story: Yahoo! 49

Homebuyers could feel the pinch if Congress follows through on plans to shut down Fannie Mae and Freddie Mac, the government-controlled mortgage guarantee giants that were rescued by a $187 billion taxpayer bailout during the financial crisis.

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Center-Left Conservative

Fort Lauderdale, FL

#2 Aug 7, 2013
Here is an issue where those of us who have been against Fanny and Freddie can come out and praise the president and get behind this change.
HaHa

Hammonton, NJ

#4 Aug 7, 2013
Center-Left Conservative wrote:
Here is an issue where those of us who have been against Fanny and Freddie can come out and praise the president and get behind this change.
Dude!!Federal Mortgage Insurance Corp that Obama proposes is bad. He is replacing two pimples with one large boil. The government should just leave mortgages solely to the private sector. If people cannot save for the 20% down can they really afford to own their own home especially when it comes to routine maintenance, replacing the HVAC, plumbing problems, new roof etc..... I will support any politician who does good but getting rid of something and replacing it something bigger is not the CHANGE people had HOPED for.
Eleanor

Mundelein, IL

#5 Aug 7, 2013
HaHa wrote:
<quoted text>Dude!!Federal Mortgage Insurance Corp that Obama proposes is bad. He is replacing two pimples with one large boil. The government should just leave mortgages solely to the private sector. If people cannot save for the 20% down can they really afford to own their own home especially when it comes to routine maintenance, replacing the HVAC, plumbing problems, new roof etc..... I will support any politician who does good but getting rid of something and replacing it something bigger is not the CHANGE people had HOPED for.
You are absolutely correct.

Home loans should come from the private sector.

Loans should NOT be doled out to ANYONE who can pass the 'mirror-test'(placing mirror under nose and wait for breath to fog the mirror).

Borrowing money is a HUGE RESPONSIBILITY that requires careful scrutiny (& 20% down).

Also, balloon loans should be stopped AND no more 'INTEREST ONLY' loans.

Both are very BAD for consumers in today's economy!!

Since: Dec 07

Palestine, TX

#6 Aug 7, 2013
Center-Left Conservative wrote:
Here is an issue where those of us who have been against Fanny and Freddie can come out and praise the president and get behind this change.
Well hell, that's very strange..........

Bush tried 5 times to get fannie/freddie under control, each time blocked in the senate by.....Dodd/Frank with then Senator Obama backing them up...."nothing wrong with Fannie/Freddie (Barney Frank)

And now your wanting praise for oblumber for something that he and dodd/frank blasted Bush about.

The left are wierd people.

Since: Jul 11

Location hidden

#7 Aug 7, 2013
Bluebonnets-Thistle wrote:
<quoted text>
Well hell, that's very strange..........
Bush tried 5 times to get fannie/freddie under control, each time blocked in the senate by.....Dodd/Frank with then Senator Obama backing them up...."nothing wrong with Fannie/Freddie (Barney Frank)
And now your wanting praise for oblumber for something that he and dodd/frank blasted Bush about.
The left are wierd people.
September 19th, 2008

"We're talking hundreds of billions of dollars - this needs to be big enough to make a real difference and get at the heart of the problem," he said. "This is the way we stabilize the system" H.Paulson on Stimulus spending

Sept. 2008 "The fundamentals of the economy are strong" J.McCain

The same month Fannie/Freddie went into a conservatorship-yea blame the left..lol!

yea,right..its the Left Wing's fault?


Since: Jul 11

Location hidden

#8 Aug 7, 2013
August 10th, 2008

``We have no plans to insert money into either of those two institutions,'' Paulson said in an interview with NBC's ``Meet the Press'' broadcast today from Beijing. He added that their earnings results were ``not a surprise.''

Are you kidding? he said that while forcing the banks to take the money!

Another boldface lie!

Since: Jul 11

Location hidden

#9 Aug 7, 2013
China was spot on about Secretary Paulson!
chisholm

Columbus, OH

#10 Aug 7, 2013
..and banks' profits, while costing the middle class dearly. IOW, business as usual in Washington and on Wall St.

Not too surprising that Obama supports this, either. When push comes to shove he's usually on the corporate side of the aisle.
chisholm

Columbus, OH

#11 Aug 7, 2013
Bluebonnets-Thistle wrote:
<quoted text>
Well hell, that's very strange..........
Bush tried 5 times to get fannie/freddie under control, each time blocked in the senate by.....Dodd/Frank with then Senator Obama backing them up...."nothing wrong with Fannie/Freddie (Barney Frank)
And now your wanting praise for oblumber for something that he and dodd/frank blasted Bush about.
The left are wierd people.
Bush isn't President anymore, in case you'd forgotten.

And Fannie and Freddie didn't cause the recession, either, in case you never knew that.
Center-Left Conservative

Fort Lauderdale, FL

#13 Aug 7, 2013
Bluebonnets-Thistle wrote:
<quoted text>
Well hell, that's very strange..........
Bush tried 5 times to get fannie/freddie under control, each time blocked in the senate by.....Dodd/Frank with then Senator Obama backing them up...."nothing wrong with Fannie/Freddie (Barney Frank)
And now your wanting praise for oblumber for something that he and dodd/frank blasted Bush about.
The left are wierd people.
The 2 problems that you are having right off the bat is:
1. Holding onto something that has been acknowledged that you agree with. So what if people were against something that you are for; they are for it now and that is considered positive movement. Divisiveness for the sake of being divisive is just unnecessary animosity.
2. There is a certain level of maturity missing in your mentality when you make up childish names when you are referring to anyone, especially the President of the United States. I think it is a sad state of affairs when people can’t discuss differences without reverting back to their adolescent ways of communicating.

Since: Nov 08

Location hidden

#14 Aug 7, 2013
Eleanor wrote:
<quoted text>You are absolutely correct.

Home loans should come from the private sector.

Loans should NOT be doled out to ANYONE who can pass the 'mirror-test'(placing mirror under nose and wait for breath to fog the mirror).

Borrowing money is a HUGE RESPONSIBILITY that requires careful scrutiny (& 20% down).

Also, balloon loans should be stopped AND no more 'INTEREST ONLY' loans.

Both are very BAD for consumers in today's economy!!
Low Information voters always need a crutch.

“My Commander-in-Chi ef!”

Since: Jun 07

Obama got Osama!

#15 Aug 7, 2013
Center-Left Conservative wrote:
<quoted text>

There is a certain level of maturity missing in your mentality when you make up childish names when you are referring to anyone, especially the President of the United States. I think it is a sad state of affairs when people can’t discuss differences without reverting back to their adolescent ways of communicating.
LOL, PERFECTLY STATED!

There are right-wingers who come on here with a 2nd grader’s playground mentality and they bring absolutely nothing to the discussion… and those are the people you just have to ignore. I laugh at their ignorance but it is sad to see people with such a strong mixture of hate and stupidity. But you nailed him perfectly with your post…

Since: Dec 07

Palestine, TX

#16 Aug 7, 2013
swedenforever wrote:
<quoted text>
September 19th, 2008
"We're talking hundreds of billions of dollars - this needs to be big enough to make a real difference and get at the heart of the problem," he said. "This is the way we stabilize the system" H.Paulson on Stimulus spending
Sept. 2008 "The fundamentals of the economy are strong" J.McCain
The same month Fannie/Freddie went into a conservatorship-yea blame the left..lol!
yea,right..its the Left Wing's fault?
Yes, according to those who know economics...(most democrats don't) it WAS the left wings fault...as usual

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

http://www.bloomberg.com/apps/news...

http://www.mcculloughsite.net/stingray/2009/0...

You know what your problem is...as years go by and those in the know discover the truth about the recession.....we really see the cause and it wasn't Bush!! LMAO

Since: Dec 07

Palestine, TX

#17 Aug 7, 2013
Center-Left Conservative wrote:
<quoted text>
The 2 problems that you are having right off the bat is:
1. Holding onto something that has been acknowledged that you agree with. So what if people were against something that you are for; they are for it now and that is considered positive movement. Divisiveness for the sake of being divisive is just unnecessary animosity.
2. There is a certain level of maturity missing in your mentality when you make up childish names when you are referring to anyone, especially the President of the United States. I think it is a sad state of affairs when people can’t discuss differences without reverting back to their adolescent ways of communicating.
Your maturity showed when you plums referred to Bush and shrub. Hang in there, tootsie.

Since: Dec 07

Palestine, TX

#18 Aug 7, 2013
Marine Corp Pat wrote:
<quoted text>
LOL, PERFECTLY STATED!
There are right-wingers who come on here with a 2nd grader’s playground mentality and they bring absolutely nothing to the discussion… and those are the people you just have to ignore. I laugh at their ignorance but it is sad to see people with such a strong mixture of hate and stupidity. But you nailed him perfectly with your post…
You pretend to be a Marine, you claim that Bush allowed 9/11 to happen, you claim oblumber singelhandely got osama bin laden......

Talk about playground mentallity, boy your full of sandbox stories. You haven't made a truthful post yet and your cowardly unreponses to me because I've busted you is hilarious. Yo've been pegged by many vets on these forums and you "chose to ignore" them becuase you can't respond to their questions.

Fkn brilliant.

Since: Dec 07

Palestine, TX

#19 Aug 7, 2013
Marine Corp Pat wrote:
<quoted text>
LOL, PERFECTLY STATED!
There are right-wingers who come on here with a 2nd grader’s playground mentality and they bring absolutely nothing to the discussion… and those are the people you just have to ignore. I laugh at their ignorance but it is sad to see people with such a strong mixture of hate and stupidity. But you nailed him perfectly with your post…
How come you weren't at Camp Lejune today with obama where you claim to have been stationed???? LMAO

We'd thought you'd be in the front row!! He sure didn't get a very big applause from the real Marines...now that was funny.

Since: Dec 07

Palestine, TX

#20 Aug 7, 2013
Center-Left Conservative wrote:
<quoted text>
The 2 problems that you are having right off the bat is:
1. Holding onto something that has been acknowledged that you agree with. So what if people were against something that you are for; they are for it now and that is considered positive movement. Divisiveness for the sake of being divisive is just unnecessary animosity.
2. There is a certain level of maturity missing in your mentality when you make up childish names when you are referring to anyone, especially the President of the United States. I think it is a sad state of affairs when people can’t discuss differences without reverting back to their adolescent ways of communicating.
What ye sew...so shall ye reap.

Since: Dec 07

Palestine, TX

#21 Aug 7, 2013
Remember the day... January 3rd, 2007
That was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES!
Add Unemployment to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy.
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA !
And who fought Bush against reform of Fannie and Freddie? OBAMA and the Democrat Congress

Most people live and learn boys....you just live.

Since: Dec 07

Palestine, TX

#22 Aug 7, 2013
chisholm wrote:
<quoted text>
Bush isn't President anymore, in case you'd forgotten.
And Fannie and Freddie didn't cause the recession, either, in case you never knew that.
It was a major factor in the recession, peanut..........Bush got blamed for the recession.

When the housing bubble of 2001-2007 burst, it caused a mortgage security meltdown. This contributed to a general credit crisis, which evolved into a worldwide financial crisis. Many critics have held the United States Congress - and its unwillingness to rein in Fannie Mae and Freddie Mac - responsible for the credit crisis.

In 2007, Fannie Mae and Freddie Mac began to experience large losses on their retained portfolios, especially on their Alt-A and subprime investments. In 2008, the sheer size of their retained portfolios and mortgage guarantees led the FHFA to conclude that they would soon be insolvent. By September 6, 2008, it was clear that the market believed the firms were in financial trouble, and the FHFA put the companies into "conservatorship". American taxpayers were left on the hook for future losses beyond the companies' existing - and shrinking - capital cushions.

All attempts by Bush to reign it in were stopped and blocked by democrats, Dodd, Frank, Pelosi and Obama along with the other democrats which became the majority in the house and senate in 2006..

Try to keep up..

Since: Jul 11

Location hidden

#23 Aug 7, 2013
Bluebonnets-Thistle wrote:
<quoted text>
Yes, according to those who know economics...(most democrats don't) it WAS the left wings fault...as usual
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
http://www.bloomberg.com/apps/news...
http://www.mcculloughsite.net/stingray/2009/0...
You know what your problem is...as years go by and those in the know discover the truth about the recession.....we really see the cause and it wasn't Bush!! LMAO
yea,right but he just happen to sign the bailout bills and the American Dream Downpayment Act

THE PRESIDENT: Thank you all. Thank you for coming. Thanks for the warm welcome. It's great to be back at the Department of Housing and Urban Development. This is not my first time here, nor will it be my last.(Applause.) I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.

During the signing ceremony of S. 811, The American Dream Downpayment Act, President George W. Bush delivers remarks at the U.S. Department of Housing and Urban Development in Washington, D.C., Tuesday, Dec. 16, 2003. "One of the biggest hurdles to homeownership is getting money for a down payment," said President Bush. "This administration has recognized that, and so today I'm honored to be here to sign a law that will help many low-income buyers to overcome that hurdle, and to achieve an important part of the American Dream." White House photo by Paul Morse One of the biggest hurdles to homeownership is getting money for a down payment. This administration has recognized that, and so today I'm honored to be here to sign a law that will help many low-income buyers to overcome that hurdle, and to achieve an important part of the American Dream.

I appreciate Alphonso Jackson agreeing to step up and become the Acting Secretary of the Housing and Urban Development. I look forward to his Senate confirmation, a hasty confirmation.(Applause.)"

yea,right the Democrats fault-not Dubya's

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