The $160 billion bailout... or is it $385 billion... or will it hit $500 billion

[rudder]

Fannie and Freddie are delisted off the NYSE. You see this is what happens when you let congress (and Clinton) demand that lenders write more mortgages to people who cannot afford it. Lenders had nothing to lose because they could count on Fannie and Freddie to be there for them. The risk is all on the U.S. taxpayer.

http://www.washingtonpost.com/wp-dy...06/16/AR2010061601719.html?hpid=moreheadlines

This bailout is larger than the ones for AIG, Chrysler and GM.

Government run healthcare... here we come!

 

[nick1985]

 

[Genx87]

These two organizations are fine. Barney Frank said so! I think Joe Boden will be along soon to inform us they are national treasures.

 

[MotF Bane]

But the poor people must have their chance to get housing!

 

[jackschmittusa]

rudder

I assume by mentioning Clinton, you refer to the elimination of "redlining".

It has been proved over and over again that the number of defaults resulting from that were only a small portion of the loans that were generated because of it.

Perhaps you have more to add?

 

[hal2kilo]

rudder

I assume by mentioning Clinton, you refer to the elimination of "redlining".

It has been proved over and over again that the number of defaults resulting from that were only a small portion of the loans that were generated because of it.

Perhaps you have more to add?

Puleeeease!, facts have no place on an ATPN thread!

 

[rudder]

rudder

I assume by mentioning Clinton, you refer to the elimination of "redlining".

It has been proved over and over again that the number of defaults resulting from that were only a small portion of the loans that were generated because of it.

Perhaps you have more to add?

I suppose it was the same thing... I was referring to the pressures on Fannie Mae from the Clinton Administration to increase the percentage of mortgages in those "redlined" areas. I don't care about the number of defaults... this got the ball rolling and within a decade of this pressure... Fannie and Freddie had 40% of the subprime market... with little or no risk to lenders. Lenders got slack on their underwriting and BAM here we are today bailing them out. Been discussed to death here already. Are you not concerned these two entities have lost $18 BILLION in the first quarter on top of the losses for 2009? Worst case scenario is Freddie and Fannie will lose $1 Trillion. You cannot deny that this is gonna be one huge expensive clusterfuck that will make costs from the BP spill seem trivial.