Future homebuyers could feel the pinc...

Future homebuyers could feel the pinch from plans in Congress to scrap Fannie Mae, Freddie Mac

There are 36 comments on the Nanaimo Daily News story from Aug 7, 2013, titled Future homebuyers could feel the pinch from plans in Congress to scrap Fannie Mae, Freddie Mac. In it, Nanaimo Daily News reports that:

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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Justin

United States

#28 Aug 8, 2013
By STEPHEN LABATON
Published: September 11, 2003

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

http://www.nytimes.com/2003/09/11/business/ne...
fingiswold

Novelty, OH

#30 Aug 8, 2013
Eighthman wrote:
Obama sends the SEIU to go protest on the front lawns of bankers homes to force them to lower mortgage lending standards, and now he wants to act like he's concerned about that?
.
Democreeps caused the mortgage crisis and now Obama is going to try and cover that fact up too.
I despise the crooks.
i despise lying sacks of snot and dung, i.e. the modern right
Ping Paronto

Phoenix, AZ

#31 Aug 8, 2013
Home School Valedictorian

Miami, FL

#32 Aug 9, 2013
WeTheSheeple wrote:
Good. The govt has no business being in the mortgage business.
I agree 100%
Refugio Cabarcas

Phoenix, AZ

#34 Aug 9, 2013
millions of members waiting, video chat, send a nd receive messages and share high quality content free!! tinyurl.com/lfgkmll
looseygoosey

Greeley, CO

#35 Aug 9, 2013
Well, of course "future homebuyers will feel the pinch"! What's so surprising about that? The liberals decided to use taxpayer dollars, funneled in a complicated manner through Freddie & Fannie, to buy every dirtbag in America a house. They nearly bankrupted us in the process.

Sh*t isn't free. It never will be. Who the f*ck do you think should pay for buying a house? Why - golly B. Jesus - how about the damn HOMEBUYER!?!?! WTF is so terrible about that? SH*T IS NOT FREE! Creating some government agency to "back" the credit of dirtbags had the predictable result: a f*cking disaster!

Are we all so stupid in this country that we can't see this? Buy your own damn house (and car, and health insurance, etc) and quit depending on Uncle. Cause "Uncle" is just US, all of us, as TAXPAYERS! There is no magic, money doesn't grow on trees and you can't just vote yourself "endless free sh*t forever" no matter how many lying liberal politicians say you can.

Sh*t is NOT free!!!!!!!!!! That includes houses.
Lamer

Hopkins, MN

#36 Aug 9, 2013
fingiswold wrote:
<quoted text>
i despise lying sacks of snot and dung, i.e. the modern right
your better off just ignoring 8boy. As you may have noticed in this thread, he needs to respond to his own posts as everyone else already knows he is a waste of space here on topix.
Sheik Yerbouti

Doylestown, PA

#37 Aug 9, 2013
looseygoosey wrote:
Well, of course "future homebuyers will feel the pinch"! What's so surprising about that? The liberals decided to use taxpayer dollars, funneled in a complicated manner through Freddie & Fannie, to buy every dirtbag in America a house. They nearly bankrupted us in the process.
Sh*t isn't free. It never will be. Who the f*ck do you think should pay for buying a house? Why - golly B. Jesus - how about the damn HOMEBUYER!?!?! WTF is so terrible about that? SH*T IS NOT FREE! Creating some government agency to "back" the credit of dirtbags had the predictable result: a f*cking disaster!
Are we all so stupid in this country that we can't see this? Buy your own damn house (and car, and health insurance, etc) and quit depending on Uncle. Cause "Uncle" is just US, all of us, as TAXPAYERS! There is no magic, money doesn't grow on trees and you can't just vote yourself "endless free sh*t forever" no matter how many lying liberal politicians say you can.
Sh*t is NOT free!!!!!!!!!! That includes houses.
It was not Freddie and Fannie that bankrupted us but the greed of wall street sociopaths and banksters. Unfortunately no one went to jail for looting our economy! Some economic crimes deserve the death penalty!
looseygoosey

Greeley, CO

#38 Aug 10, 2013
Sheik Yerbouti wrote:
<quoted text>
It was not Freddie and Fannie that bankrupted us but the greed of wall street sociopaths and banksters. Unfortunately no one went to jail for looting our economy! Some economic crimes deserve the death penalty!
No one went to jail because the politicians made what ought to be criminal behavior LEGAL! I bet some of those wall street & banker types made nice fate contributions to the politician's "election" funds too. Legal bribery, as far as I'm concerned.

But that's what you get when you let politicians immerse themselves into the private economy using the taxpayer's money. What do you think they offered those Wall Street & banker folks? It was quite simple: make all the loans you want, including to awful dirtbags who will NEVER pay it back, and we will back you with the full force & credit of Uncle Sam. Naturally, they took it.

BUT IF THE POLITICIANS MAKE THIEVERY LEGAL, WHY IS ANYONE SURPRISED WHEN THOUSANDS OF THIEVES SHOW UP? The solution is to get rid of politicians who want to expand government into every nook & cranny. That's mostly Dems and liberals.
goose

Chicago, IL

#39 Aug 10, 2013
looseygoosey wrote:
<quoted text>
No one went to jail because the politicians made what ought to be criminal behavior LEGAL! I bet some of those wall street & banker types made nice fate contributions to the politician's "election" funds too. Legal bribery, as far as I'm concerned.
But that's what you get when you let politicians immerse themselves into the private economy using the taxpayer's money. What do you think they offered those Wall Street & banker folks? It was quite simple: make all the loans you want, including to awful dirtbags who will NEVER pay it back, and we will back you with the full force & credit of Uncle Sam. Naturally, they took it.
BUT IF THE POLITICIANS MAKE THIEVERY LEGAL, WHY IS ANYONE SURPRISED WHEN THOUSANDS OF THIEVES SHOW UP? The solution is to get rid of politicians who want to expand government into every nook & cranny. That's mostly Dems and liberals.
Do I hear "affordable housing" in the mix?
That was the start of all this!
fingiswold

Novelty, OH

#40 Aug 10, 2013
looseygoosey wrote:
Well, of course "future homebuyers will feel the pinch"! What's so surprising about that? The liberals decided to use taxpayer dollars, funneled in a complicated manner through Freddie & Fannie, to buy every dirtbag in America a house. They nearly bankrupted us in the process.
Sh*t isn't free. It never will be. Who the f*ck do you think should pay for buying a house? Why - golly B. Jesus - how about the damn HOMEBUYER!?!?! WTF is so terrible about that? SH*T IS NOT FREE! Creating some government agency to "back" the credit of dirtbags had the predictable result: a f*cking disaster!
Are we all so stupid in this country that we can't see this? Buy your own damn house (and car, and health insurance, etc) and quit depending on Uncle. Cause "Uncle" is just US, all of us, as TAXPAYERS! There is no magic, money doesn't grow on trees and you can't just vote yourself "endless free sh*t forever" no matter how many lying liberal politicians say you can.
Sh*t is NOT free!!!!!!!!!! That includes houses.
too complicated for your, dumbass, stick to fingerf**ing yourself and leave finance to people who understand it
wastoid on fire

United States

#41 Aug 10, 2013
fingiswold wrote:
<quoted text>
too complicated for your, dumbass, stick to fingerf**ing yourself and leave finance to people who understand it
Eat chit, moron. You understand nothing. Obama ate your brain for lunch.
fingiswold

Novelty, OH

#45 Aug 11, 2013
wastoid on fire wrote:
<quoted text>
Eat chit, moron. You understand nothing. Obama ate your brain for lunch.
i had one at some point, though - more than you can say
wastoid on fire

United States

#46 Aug 11, 2013
fingiswold wrote:
<quoted text>
i had one at some point, though - more than you can say
Eat chit anyway. Obama told me you should, so it's been approved.
fingiswold

Novelty, OH

#47 Aug 12, 2013
wastoid on fire wrote:
<quoted text>
Eat chit anyway. Obama told me you should, so it's been approved.
you only seek approval from the Nazi Party, you're not fooling anyone
fingiswold

United States

#53 Sep 2, 2013
wastoid on fire wrote:
<quoted text>
Eat chit anyway. Obama told me you should, so it's been approved.
not interested in what you see after licking hash oil off your boyfriend's bottom..

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