Sunday, January 24, 2010

Fannie Mae, Freddie Mac Should Be Eliminated

Quoting The Wall Street Journal:
“A top House Democrat [Rep. Barney Frank (D., Mass.)] on Friday said his committee was preparing to recommend ‘abolishing’ mortgage-finance giants Fannie Mae and Freddie Mac and rebuilding the U.S. housing-finance system from scratch…

Some Republicans have argued that the companies should ultimately be reduced in size and privatized…


But several industry groups and academics have suggested that the government is likely to continue playing at least some role in the future of the companies.

One such report came from analysts at Standard & Poor's this past week. ‘It's hard for us to imagine’ how enough capital could be attracted to replace Fannie and Freddie with stand-alone private companies that would be able to offer low-cost funding for 30-year fixed-rate mortgages, the analysts wrote.”

[And, isn’t that your FIRST FREAKING CLUE that this home ownership entitlement mentality is an unsustainable FANTASY which will ALWAYS end badly?]
Click the image & read the rest:
Click the image & read the rest
Click here to enlarge the image.
Click here for more MUST SEE commentary.

The following is a very brief reminder of the pertinent
facts regarding the collapse of Fannie & Freddie:

The above video describes a $200 Billion bailout for Fannie & Freddie.
That bailout was expanded to $400 Billion.
Later, it was declared to be an UNLIMITED bailout!
Remember, the Dims [corruptly] run both Freddie and Freddie!
Yet, the $170 Billion AIG bailout is all the media are interested in!

Click here for a comprehensive look at the housing debacle.


RICH said...

Good stuff. These lending institutions were commissioned by congress to offer substandard, subprime loans to unqualified borrowers.

This was wealth distribution in the form of credit. In order for someone to have credit - someone had to give up their wealth.

It's criminal what the entitlement mindset is doing to this nation.

SBVOR said...


Of course, the brutal irony is that the very people the politicians purported to “help” are -- as ALWAYS -- the ones who have suffered the greatest LOSS! They are the ones losing their homes, their credit rating and so much more. That fact is substantiated in this post -- see the quote, near the bottom of the post, from Elizabeth Duke.

This is yet another validation of the age old adage. Anytime anyone hears the phrase “I am from the Federal government and I am here to help”, the ONLY rational response is to RUN!

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