Another quarter, another Fannie Mae bailout

[Slew Foot]

http://finance.yahoo.com/news/Fanni...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

Another 8+ billion down the hole. Dang, Im really glad the taxpayers decided to back all those mortgages of assorted losers and deadbeats

 

[totalnoob]

This plus our share of the IMF bailout puts the national debt WELL over $13 trillion.

Print print print!

 

[highland145]

Too F-n bad I was raised to pay my bills and not over extend my credit. I could be ripping off the middle class right about now.

 

[Patranus]

(never gets old)

 

[MotF Bane]

Responsibility is overrated.

 

[highland145]

Responsibility is overrated.

Can I get a do over?

 

[DesiPower]

please bail'em out... I haven dumped their stocks yet...

 

[blackangst1]

Watch The Fall of The Republic and you will understand why.

 

[nick1985]

/barf

 

[nonlnear]

Burn it down already!

 

[Blackjack200]

(never gets old)

Or any less racist.

 

[juiio]

Don't forget about the $10.6 billion that Freddie Mac asked for last week.

http://news.yahoo.com/s/ap/20100505/ap_on_bi_ge/us_earns_freddie_mac_1

 

[ProfJohn]

Where is that Barney Frank quote when you need it?

 

[DesiPower]

Or any less racist.

ya... say anything to a black person and it becomes racist... BIH MF

 

[piasabird]

Plenty of non-minorities bail out of their house loans when it is convenient. They just run up all their credit cards and wonder why they cant pay the mortgage on their 3,000 Sq Ft of house. However, they manage to go to Mexico on vacation, and pay for 2 cars, a motorcycle and a boat.

Where does all the money go . . . . .

 

[her209]

What do the homeowners have to do with a FNM bailout? If the homeowners can't afford the mortgage payments before, how are they all of a sudden able to afford them post-bailout? Is the government giving the homeowners money to pay their mortgages? If anything, this is a bailout of the investors in the MBS sold by FNM, no?

 

[Patranus]

Or any less racist.

Your is racist.

 

[Blackjack200]

What do the homeowners have to do with a FNM bailout? If the homeowners can't afford the mortgage payments before, how are they all of a sudden able to afford them post-bailout? Is the government giving the homeowners money to pay their mortgages? If anything, this is a bailout of the investors in the MBS sold by FNM, no?

IIRC the investors are wiped out and FNM is owned by the Government. Is that not the case?

 

[Blackjack200]

Your is racist.

Why did you edit out your animated gif? I guess you realized that it was racist?

Edit: animated gif not removed, just rehosted.

 

[her209]

IIRC the investors are wiped out and FNM is owned by the Government. Is that not the case?

The shareholders were wiped out. But the holders of the MBS... I don't think so.

 

[Blackjack200]

The shareholders were wiped out. But the holders of the MBS... I don't think so.

Gotcha. I'm not in the industry and I don't know exactly how it works, but if individual MBS investors are relying on FNM to guarantee the loans, and the Government is propping up FNM, then you're right. I was under the impression that these assets were held long on FNM's books.

 

[MotF Bane]

Or any less racist.

 

[heyheybooboo]

This plus our share of the IMF bailout puts the national debt WELL over $13 trillion.

Print print print!

Hey, look. It's Hank Paulson!

Wasn't he the member of the Bush Administration who came up with the plan to pump $200+ billion into the GSEs?





--

 

[cubeless]

one real question here is are they only bailing out loans/mbs from > last year? or are the new holdings not performing? if they're still eating shit then someone really needs to get their ass kicked...

 

[Jhhnn]

Bailing out investors from the Bush era of the "Ownership Society"? Anybody remember that, or how the GSE's were manipulated into making shaky loans to support it, courtesy of their "regulator", HUD? Or all the money that mortgage brokers and investment bankers raked in selling deregulated free market bunk to the GSE's?

What a great deal for the financial elite- buy Uncle Sam's bonds so he can pay off what the GSE's owe on your mortgage bonds... Win-win!