Comments on: U.S. Government Bails Out Fannie & Freddie

By: Gary

Gary — Tue, 15 Jul 2008 17:37:53 +0000

I believe this quote originally came from another great literary piece of work …The BIBLE.

Have a great day!!

By: Janet

Janet — Tue, 15 Jul 2008 16:03:18 +0000

Hy Bryan,

I was reading Think and Grow Rich by Napolean Hill and I just wanted to share what I read today.
“”WHATSOEVER A MAN SOWETH, THAT SHALL HE SO REAP.” Nothing as widespread and effective as the depression could possibly be “just a coincidence.” Behind the depression was a CAUSE. Nothing ever happens without a CAUSE. In the main, the cause of the depression is traceable directly to the worldwide habit of trying to GET WITHOUT GIVING. These illustrations are brought to the attention of those who have personal services to market, to show that we are where we are, and what we are, because of our own conduct! If there is a principle of cause and effect, which controls business, finance and transportation, this same principle controls individuals and determines their economic status.”"

This is complete truth and when we all start to see this that is when a solution will be found. Our country is in this position because of GREED, wanting without giving more than you get. Continuing to bail out the greedy only reinforces their behavior.

I just thought I would share. Have a great day.

Janet

Great thoughts, Janet. I’d like to add that simple foolishness is a root cause as well. — Bryan Ellis

By: Gary

Gary — Mon, 14 Jul 2008 20:45:19 +0000

By the way, does anyone know whether Chrysler ever paid the government back when they were bailed out in or around 1980?? I rather doubt it… and God knows they are in NO condition to do it now!! It should be understood that at some point these moneys need to be repaid.

I don’t agree w/ the government interfering w/ private enterprise at all or for any circumstances (regardless of the extreme), it sets a serious precident. Why didn’t they bail out Enron or Worldcomm, or so many others (K-mart also comes to mind).

By: Deborah Schultz

Deborah Schultz — Mon, 14 Jul 2008 20:17:02 +0000

I have a mortgage that is privatelly held, (by my parents) pays me to live there, (the upper story of an old tri-plex, and a years supply of food in my basement. I think we should work as hard as we can, as fast as we can, for as long as we can, and be as prepared as we can for the future. It looks a little bleak to me.

By: Jeffrey Smith

Jeffrey Smith — Mon, 14 Jul 2008 17:52:59 +0000

There is increased discussion on Fox Business News about the government implementing policies that effectively privatize profits and socialize losses. It’s easy to see why that is happening when politicians (our elected officials) are given sweetheart deals, like the “Friends of Angelo Mozillo” getting low cost mortgages. The Federal Reserve wants the power to print as much money as needed to balance the books of Wall Street. We are destined for hyper inflation if that nonsense is allowed to continue.

By the way, there was NO WAY that a bankruptcy of Bear Stearns would have collapsed the economy, shattered the Earth, and sent the galaxy spinning off to oblivion. The bankruptcy laws and procedures are there for a reason. The Federal Reserve bailed out the fat cats on Wall Street with a 28-day $30 billion loan that was never repaid. Bernanke testified UNDER OATH that the paper received in exchange for the cash was A-PAPER, and later we learn from the released minutes that the FED knew the paper was junk quality.

And I never got my stupid stimulus check, thankfully. I don’t want those morons on capitol hill trying to buy my vote. IF YOU WANT CHANGE, THEN VOTE AGAINST THE INCUMBENT.

By: Bart

Bart — Mon, 14 Jul 2008 15:27:57 +0000

IT’S THE ATTACK OF THE CREATURE THAT ATE THE US CONSTITUTION….

By: Gary

Gary — Mon, 14 Jul 2008 15:14:45 +0000

Federal National Mortgage Association (FNMA, aka “Fannie Mae”) and Federal Home Loan Mortgage Corporation (FHLMC, aka “Freddie Mac”) are Quasi-Governmental agencies. They are not governmental organizations, but are closely monitored by and report very much to the government. They are in fact private publically-held corporations and you can purchase and sell their stock like any other publically traded corporate entity.

This is entirely correct, with the added stipulation that they are both “Government Sponsored Enterprises” (GSE’s) meaning they are privately owned, but do receive support from the federal government. — Bryan Ellis

By: Brian

Brian — Mon, 14 Jul 2008 14:51:12 +0000

Hmmm… maybe you did read “Creature From Jekyl Island” after all.

Still, I’m going through it again myself after many years of letting it collect dust, it’s like a prophecy unfolding.

Not a conspiracy theorist myself Brian, just trying to gather all of the information I can to understand the next move in my business.

By: Richard Landry

Richard Landry — Mon, 14 Jul 2008 14:34:07 +0000

The government never does a bailout. They didn’t call the Crysler bailout, the Savings and Loan bailout, bailouts so why would they start now. The government’s actions never effect the markets for longer than week or so. Markets always do what they see as best for themelves. The government has been in private busines since the TVA was formed in the 30’s and 40’s. Fannie Mae and Freddie Mac were ovt agencys before and will probably end up there again.

By: Chuck

Chuck — Mon, 14 Jul 2008 14:23:16 +0000

I am a little confused here. Are Fannie Mae and Freddie Mac
public companies or government extensions.

If part of the government the bailout is normal procedure.
The government is incapable of running a business due to
deficit spending being a normal part of their modus operandi.

If public companies we can look back to the Chrysler bailout
(and possibly others I can’t remember now) and hope that it works out.

Also are you suggesting they should go under. Yikes!
What in your opinion would happen then.