White House mulls major Fannie-Freddie shakeup

[Patranus]

The Obama administration is considering an overhaul of Fannie Mae and Freddie Mac that would strip the mortgage finance giants of hundreds of billions of dollars in troubled loans and create a new structure to support the home-loan market, government officials said.

The bad debts the firms own would be placed in new government financial institutions - "bad banks" - that would take responsibility for collecting as much of the outstanding balance as possible. What would be left would be two healthy financial companies with a clean slate.

http://www.sfgate.com/cgi-bin/...9/08/05/BU3J194NP0.DTL

How many trillions of dollars are we going to pump into these companies?
After all, the government has all readdy pledges 1.5 trillion in aid.

I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

So much for accountability for those 'evil' wall street companies but I guess when one of their ex CEOs is in your administration you have to do something.

Oh ya, who was Fannie/Freddie #2 recipient of campaign contributions? Wasn't BOOOSH....Wasn't McCain....Have a guess yet?

Then there is James Johnson and Franklin Raines.......

 

[StageLeft]

Barney Frank continues to be a fvcking disaster.

 

[RyanPaulShaffer]

:music:
You can build
You can buy
Any house your heart desires
Ooo ooo ooo!
Zero down
Financing
Banking Queen
:music:

 

[Stuxnet]

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

 

[BoberFett]

Bu, bu, bu, but Bush! Bush lied! Thousands died!

 

[BoberFett]

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual liberal twats will show up, throw around some insults, point out that it's Faux News, blame everything on Republicans. That or this thread will be ignored completely. The liberal fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Democrat, and that everything bad in the universe is the fault of Bush and the Republicans. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

 

[Genx87]

Barney Frank, Chuck Schumer, Chris Dodd.

You know they suck bad at their job when Bush saw it coming years ago while they blocked it.

 

[retrospooty]

Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

 

[Genx87]

Dems split with the republicans in house and senate until after the 02 elections. I am not placing full blame on one party. Only pointing out the absolute hilarity that Bush asked for more regulation due to problems he foresaw in those institutions while the above didnt.

 

[Stuxnet]

Originally posted by: Genx87
Dems split with the republicans in house and senate until after the 02 elections. I am not placing full blame on one party. Only pointing out the absolute hilarity that Bush asked for more regulation due to problems he foresaw in those institutions while the above didnt.

... and that the Repubs have been lambasted for blocking regulatory action while the dems were allegedly screaming for it.

Originally posted by: BoberFett

Originally posted by: jbourne77
This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual liberal twats will show up, throw around some insults, point out that it's Faux News, blame everything on Republicans. That or this thread will be ignored completely. The liberal fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Democrat, and that everything bad in the universe is the fault of Bush and the Republicans. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

You've certainly got me there. There are some Democrats on this board whose views I respect, despite disagreeing with them. But by and large, this forum is a daycare, where you really just have a bunch of two year-olds trying to cope with the fact that not everyone shares their worldview.

 

[Greenman]

Originally posted by: BoberFett

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual liberal twats will show up, throw around some insults, point out that it's Faux News, blame everything on Republicans. That or this thread will be ignored completely. The liberal fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Democrat, and that everything bad in the universe is the fault of Bush and the Republicans. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

Off topic, but I couldn't agree more. I skim P&N now and then looking for items that might interest me, and I regularly run across exactly that scenario. The lack of reasoned discussion is why I so rarely post here.

 

[Thump553]

FNM and FRE stock popped up over 25% yesterday when this news came out, and are still climbing today.

The good news-I own a small amount of FNM. The bad news-I bought it for short term trading just before the government put them into receivership last fall. (Lesson learned-don't hold shakey financial stocks over the weekend).

I'd like to see more details of this proposal, I'm on the fence as to whether it is wise or beneficial to the general public.

 

[actuarial]

Originally posted by: Greenman
Off topic, but I couldn't agree more. I skim P&N now and then looking for items that might interest me, and I regularly run across exactly that scenario. The lack of reasoned discussion is why I so rarely post here.

I do find it funny when one side accuses the other of this though, as if it's only the 'liberal twats' who do this and not also all the 'conservative nutjobs'.

The best part is that most of the time their argument basically is about who sent the message, and not in any way linked to what they would actually want. To a republican, anything with the tag 'liberal' on it is bad, no matter what, and vice versa for the dems. They're all pulling the same shit most of the time, and yet people get all hung up on the labels.

 

[Moonbeam]

Originally posted by: BoberFett

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual liberal twats will show up, throw around some insults, point out that it's Faux News, blame everything on Republicans. That or this thread will be ignored completely. The liberal fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Democrat, and that everything bad in the universe is the fault of Bush and the Republicans. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

I think I just did.

 

[Patranus]

Read a book titled 'The Housing Boom and Bust' by Thomas Sowell.

Thomas Sowell is anything but a GOP shill.

 

[Robor]

Originally posted by: retrospooty
Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

*Note the crickets

 

[Patranus]

Originally posted by: Robor

Originally posted by: retrospooty
Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

*Note the crickets

Huh, I do believe that Fox News does but blame on the Republicans in the video I posed. Might want to actually watch it instead of assuming something.

 

[soulcougher73]

Originally posted by: BoberFett

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual conservative twats will show up, throw around some insults, point out that it's Lib News, blame everything on Democrats. That or this thread will be ignored completely. The conservative fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Republican, and that everything bad in the universe is the fault of Obama and the Democrats. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

Fixed that for you. Or did i? Sound familiar yet?

 

[Stuxnet]

Originally posted by: Robor

Originally posted by: retrospooty
Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

*Note the crickets

There are crickets because retrospooty accused the right (Patranus, in this case) of trying to lump all of the blame on the left, when he does no such thing. He implies complicity of the left, presumably as a defense for the general mantra on this board that the right is entirely to blame. I read his post quite a few times, and I just can't find the words "blame it ALL on the left." Can you show them to me, please?

And like Patranus said, perhaps you should watch the video before commenting.

 

[Robor]

Originally posted by: jbourne77

Originally posted by: Robor

Originally posted by: retrospooty
Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

*Note the crickets

There are crickets because retrospooty accused the right (Patranus, in this case) of trying to lump all of the blame on the left, when he does no such thing. He implies complicity of the left, presumably as a defense for the general mantra on this board that the right is entirely to blame. I read his post quite a few times, and I just can't find the words "blame it ALL on the left." Can you show them to me, please?

And like Patranus said, perhaps you should watch the video before commenting.

The problems with Fannie and Freddie are constantly blamed on the (D)'s here and elsewhere and those pointing the blame are nearly always on the right. This video doesn't change that.

 

[OCGuy]

They are out of control.

 

[Genx87]

Originally posted by: Robor

Originally posted by: jbourne77

Originally posted by: Robor

Originally posted by: retrospooty
Wait a minute... Bush noted this info in the 2001 budget? Who was in charge of the oval office, house and senate (and therefore leading all comittees) until January 2007? Barney Frank? No, it was the reps.

Granted Barney Frank and Chris Dodd are corrupt asses and need to go along with Pelosi and Reid - but its not like they caused this mess. If Bush knew it in 2001, why did they not regulate it? Why? Because regulation is against the core principles of the republicans. Why did Frank not regulate it in 2007? HE's as corrupt as the next guy in Washington - he was paid off in one way or another, so was Dodd.

You want to say Washington is corrupt? you will get no argument - you want to blame it ALL on the dems? Your a fool of the highest degree.

This is why intelligent people hate Fox news... They come up with interesting info that Bush recommended this in 2001 - then blame the dems for not getting it done who werent charge of anything intil January 2007 - far too late to have avoided this mess. We were crashing by the end of 2007. they give a total pass on the Bush admin and rep congress from 2001 until 2007 and blame the dems. Granted, like I said above the dems are corrupt too, but fox news is just putting this info out there to stir up reps and make them angry.

the Truth? yes
Nothing but the truth? yes
The whole whole truth? - cough cough

*Note the crickets

There are crickets because retrospooty accused the right (Patranus, in this case) of trying to lump all of the blame on the left, when he does no such thing. He implies complicity of the left, presumably as a defense for the general mantra on this board that the right is entirely to blame. I read his post quite a few times, and I just can't find the words "blame it ALL on the left." Can you show them to me, please?

And like Patranus said, perhaps you should watch the video before commenting.

The problems with Fannie and Freddie are constantly blamed on the (D)'s here and elsewhere and those pointing the blame are nearly always on the right. This video doesn't change that.

That is because the most vocal proponents of Freddie and Fannie were democrat banking leaders who blocked attempts to better regulate. Then the same people whined the banking industry wasnt regulated enough.

 

[BoberFett]

Originally posted by: soulcougher73

Originally posted by: BoberFett

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual conservative twats will show up, throw around some insults, point out that it's Lib News, blame everything on Democrats. That or this thread will be ignored completely. The conservative fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Republican, and that everything bad in the universe is the fault of Obama and the Democrats. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

Fixed that for you. Or did i? Sound familiar yet?

Yeah, it works either way. I just hate the Democrat party more than I hate the Republicans. On a scale of 1 to 10 my disdain for Republicans is a 9 while Democrats are a 10. That extra point is mostly due to the Democrat cockroaches that infest this forum.

 

[retrospooty]

Originally posted by: soulcougher73

Originally posted by: BoberFett

Originally posted by: jbourne77

Originally posted by: Patranus
I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

This discussion should get interesting...

No it won't. This will be anything BUT interesting. One of two things will happen. The usual conservative twats will show up, throw around some insults, point out that it's Lib News, blame everything on Democrats. That or this thread will be ignored completely. The conservative fools around here will NEVER admit that ANYTHING is due to ANY ACTION by a Republican, and that everything bad in the universe is the fault of Obama and the Democrats. This forum is a wasteland, if you're waiting for interesting conversation you'd be better off visiting a daycare.

Fixed that for you. Or did i? Sound familiar yet?

Welcome to politics... All hate and no progress makes us all a dull boy.

The bottom line truth is both parties are corrupt beyond repair - and 3rd part isnt the answer either, because if they came into power they would be bought off by the same corporations that bought off the reps and dems. Its just human nature.

why do I like the dems better? If the people in power are going to steal all our tax money and waste it, I would at least like to see religion the hell out of our schools, pro choice, stem cell research, and gay marriage being legal... I am pro gun rights and extremely pro death penalty however.

 

[MrMatt]

Originally posted by: Patranus

The Obama administration is considering an overhaul of Fannie Mae and Freddie Mac that would strip the mortgage finance giants of hundreds of billions of dollars in troubled loans and create a new structure to support the home-loan market, government officials said.

The bad debts the firms own would be placed in new government financial institutions - "bad banks" - that would take responsibility for collecting as much of the outstanding balance as possible. What would be left would be two healthy financial companies with a clean slate.

http://www.sfgate.com/cgi-bin/...9/08/05/BU3J194NP0.DTL

How many trillions of dollars are we going to pump into these companies?
After all, the government has all readdy pledges 1.5 trillion in aid.

I seem to remember something back in 2003 about someone named BOOOOSH calling for more regulation and Barney Frank saying that they were fiscally sound.
http://www.youtube.com/watch?v=LPSDnGMzIdo

So much for accountability for those 'evil' wall street companies but I guess when one of their ex CEOs is in your administration you have to do something.

Oh ya, who was Fannie/Freddie #2 recipient of campaign contributions? Wasn't BOOOSH....Wasn't McCain....Have a guess yet?

Then there is James Johnson and Franklin Raines.......

I said this before, regarding the Freddie/Fannie thing. O received more money than everyone but Dodd from those two. He'd fall in line eventually. He's an elitist that spouts populist rhetoric, and since 85% of voters only listen to campaign ads and don't look at what's behind them, they voted for this retard we now have as president. I said this before he even was nominated; he's more in the pocket of big banks than any republican ever was.