Shouldn't we shut them down before they completely Bankrupt America?
Isn't Barney Franks Fannie Mae what caused the Housing Meltdown and the Economic Crisis we are dealing with?
Fannie Mae posts $18.9 billion Q3 loss, taps Treasury - Nov. 5, 2009
NEW YORK (Reuters) -- Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth.
The fannie mae be to big ...no one wants to notice the multi-billion dollar fat queen in the room.........especially when freddie-mac and chees is it's boyfriend..if I may speak Franks..ly
Another great post Dawg.
I would think where the government has control of Fannie Mae now; it has turned into another government program. This is why not much focus is not put on it. Eventually the taxpayers will be drained from this type of behavior by our government. We all know the government can not even run the government.
They should just shut it down, let it file for bankruptcy and forget about it. Of course the taxpayers will be the ones to lose. We have got to get all these people in D.C. out of office. They will be the ones to bankrupt America.
On September 7, 2008, both Fannie Mae and Freddie Mac, under the direction of United States Treasury Secretary Henry Paulson, stated that the two GSE's (Government sponsored Enterprises) into "conservatorship "
This decision was highly supported by Federal Reserve Bank Chairmen Ben Benanke. Both Paulson and Benanke both supported this action and it was the only way they could commit taxpayer money .
Now comes the hard part to admit do they shut it down, do they keep it going using taxpayer money.
Well.....Rumor has it they have to shut it down bye bye! BUT how is this Administration going to tell the American people they failed in this BAIL-OUT! When will they tell us is the trillion dollar question??
And now Obama is trying to get the banks to start the same thing over again by loaning to people who can not pay it back. This Administration will never learn. They are having a ball with our money while we the people are drowning.
dawg....they all crooked except habitat
i had this promblem with a place called wymone fields.....controled orgainzation thru our county.....i won't go into all of it....i had a tornado that tore my trailer up here on my land....there were 10 of that qualified for a rebuild....anyway they were croocked, they got the money for rebuild and some donations like septic and air conditioner and a few other things.....they went bankrupt.....the county was suppose to oversee it and papers that i had signed, ithought was closing before the house was ever build because the deadline was coming up...i did not understand alot of it....but i signed a loan thru the bank that they were going to pay in full in 3 months....they had spent the money from the county and i was the last house.....which alot didn't get done by the builder ( who happen to be the daughter of the ctooked foundation that built all the houses.....any way..they quit making payments to bank,,,,i was left holding the bag...their office was empty.....packed up and gone with the money....my house was in forclosure for almost 7 years.....me not knowing if i was going to lose my land which i signed with the house.....and be put on the street....a good christian man from the county told me what was happening, first time anyone from the county had come to my house to see about the house or me and let me know about their dissappering...told a good lawyer for low income people...i was on ss. thank god i had kept a copy of every paper i had signed..... it took me all those years to settle it but i won against the county....God and me......i just wasn't going to give up my land i work 2 jobs to pay for....they had torn my trailer down that i had started fixing up. so i know about crooked politics.....my land stood bare for 6 months before anything was done to build me a house...for one year my grand-daughter and i had to live with my son up the street....
so everyone, be carefull....fannie mae was one of the places that offered help.....i told them in the coutroom....do you people honestly think i would sign a thirty year loan at a bank at the age of 60 years old ??? get real..
Fanny Mae & Freddy Mac were both the reason for the financial collapse. But, the media won't focus on that because the media supported the idgets who blew up the balloon that collapsed. Oh what a beautiful morning......
Because The Democrats Do Not Want The American People To Know The Truth.
Plain and Simple ... Americans know that Barney Frank's Failures as the Head of the Housing Over Sight Committee was the foundation of the Housing Market Collapse.
Democrats played on the "wants" of those that could not afford Homes, by claiming "Everyone Deserves To Own Their Own Home" ... Even if they couldn't afford one apparently.
ACORN helped "strong arm" Banks & Lenders into approving Under Qualified Loans by playing the "Race Card" and protesting outside Bank President's Homes. When these "Under Qualified Applicants" could not afford to make their payments, they were foreclosed one and BANKS LOST MILLIONS ... Lenders went Bankrupt.
Obama is doing the same thing with the Economy ... He claims we're going to get the Country back on track by building from the ground up .... So, Obama is relying on the very same people that couldn't make their mortgage payments because they bought a home they couldn't afford, to build the country back up ????? ARE YOUR SERIOUS ????
This would not have happened if Barney Frank was doing his job properly. He should be prosecuted for neglecting his duties. We are heading in the same direction with the houses losing there value everyday. Now will Obama blame the Republicans for this one.
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