The fannie and freddie takeover........

[redsamurai]

what's your guys opinions? I can't add much to this since I'm on the fence, I have absolutely no idea if this is a good idea or not. What I do find curious is that not alot of republicans are hopping mad about this........if this was a democratic administration enacting this takeover, there would be hell. But this is a substantive debate I'd like to hear your guys takes on. I'm leaning that this is just another patch by the Bush administration and won't fix what ails us. Is Jr. bailing out his housing buddies with this? If it really is a good idea, i'm for it........but if this just pushes the ball down the road...........well........

 

[jnevin]

It's bailing out the world's investors to a degree. The whole thing's pretty much fucked.

 

[EZ_E]

It's a little late now, where was all this in late 2006 and all of 2007?

I was with 3 mortgage companies that are now no longer operating and have been out of work since June. I'd like to think this mess will get cleaned up but I'm not holding my breath.

 

[redsamurai]

It's bailing out the world's investors to a degree. The whole thing's pretty much fucked.

educate me.......will it actually help people that are in the shit "NOW".........or is this something to just prop up the homebuilding business at a time when people probably shouldn't be looking at buying a home anyway....????

 

[jnevin]

Homecomings just ate shit.

 

[jnevin]

educate me.......will it actually help people that are in the shit "NOW".........or is this something to just prop up the homebuilding business at a time when people probably shouldn't be looking at buying a home anyway....????

It's to protect the banks so they can continue to lend.

 

[EZ_E]

The ironic thing is that banks HATE to lend mortgage money, they only do it cuz the Fed tells them they have to. With all these mortgage lenders going under the banks will soon be the only place to go for the $$$...

 

[redsamurai]

It's to protect the banks so they can continue to lend.

shouldn't banks be scaling back their lending anyway with the losses they're taking? So what's your take, good thing or bad? Isn't this basically putting the american tax payer on the hook for failed loans? I understand utilizing the govt to help people that are fucked "right now"........but it seems to me this is just reinforcing and continuing the way banks have been operating for the last 20-30 years, which I have read is the problem to begin with.

 

[jnevin]

The ironic thing is that banks HATE to lend mortgage money, they only do it cuz the Fed tells them they have to. With all these mortgage lenders going under the banks will soon be the only place to go for the $$$...

The amount of money and loans the banks make from brokers, that'll neve happen.

 

[SouthernLord]

What would happen if the gov did not bail them out? It seems like we are just putting a band aid on the problem. I feel that it is not the gov's responsibility to pay Americas credit card bills and bail them out of houses they had no business buying to begin with. All of this is coming out of our pockets. Well at least those of us who actually pay taxes.