John Adams Posted December 27, 2009 Share Posted December 27, 2009 Spend it up Barack. http://online.wsj.com/article/SB1261683072...wsj_gadgv1& The Obama administration's decision to cover an unlimited amount of losses at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years stirred controversy over the holiday. The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each. Unlimited access to bailout funds through 2012 was "necessary for preserving the continued strength and stability of the mortgage market," the Treasury said. Fannie and Freddie purchase or guarantee most U.S. home mortgages and have run up huge losses stemming from the worst wave of defaults since the 1930s. "The timing of this executive order giving Fannie and Freddie a blank check is no coincidence," said Rep. Spencer Bachus of Alabama, the ranking Republican on the House Financial Services Committee. He said the Christmas Eve announcement was designed "to prevent the general public from taking note." Link to comment Share on other sites More sharing options...
Magox Posted December 27, 2009 Share Posted December 27, 2009 That dude Barry, he sure is tricky. On a serious note, how many of you do really believe that we will recuperate the majority of the funds that are being wasted on Freddie and Fannie, considering the lending environment that we are in right now? Let's see here, Fannie and Freddie were losing money when unemployment was around 5% and home values were rising, so now that home prices are still coming down and unemployment is above 10% we should just double down on the lending Link to comment Share on other sites More sharing options...
DC Tom Posted December 27, 2009 Share Posted December 27, 2009 Let's see here, Fannie and Freddie were losing money when unemployment was around 5% and home values were rising, so now that home prices are still coming down and unemployment is above 10% we should just double down on the lending Well, considering that I'm a contrarian... Link to comment Share on other sites More sharing options...
IDBillzFan Posted December 28, 2009 Share Posted December 28, 2009 Spend it up Barack. http://online.wsj.com/article/SB1261683072...wsj_gadgv1& I wouldn't worry. They know what they're doing. Nothing to see here. Link to comment Share on other sites More sharing options...
keepthefaith Posted December 29, 2009 Share Posted December 29, 2009 I wouldn't worry. They know what they're doing. Nothing to see here. How the fukk did we elect this guy? He's turned into a fukking embarrassment to our country and all that support him. The clueless remain the clueless but they are committed to their own incompetence. Link to comment Share on other sites More sharing options...
BLZFAN4LIFE Posted December 29, 2009 Share Posted December 29, 2009 Spend it up Barack. http://online.wsj.com/article/SB1261683072...wsj_gadgv1& Are we talking about the same Barack Obama who said "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street" during a 60 minutes two weeks ago? Link to comment Share on other sites More sharing options...
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