Gov't seizes Fannie & Freddie

Banjo said:
These two mortgage giants owes a combination of $5 trillion or something like that. I remember hearing about it on CNN a while ago. Not to mention that the USA already has a national debt of approximately 8 to 9 trillion.

It's astonishing how they got this far without being stopped by the government.
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Makes one wonder what else they haven't been monitoring?

jillio said:
The estimate I heard was a cost of 5 billion to taxpayers.

I personally don't see the logic in the government who can't balance their own budget and is like 8 trillion in debt trying to fix failing mortgage lenders who are in debt. Isn't that kind of like the blind leading the blind?
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:lol: :lol: :lol:

Banjo said:
Fannie and Freddie owes $5 trillion, not billion. Though I don't know how much it's going to cost the taxpayers, but it's probably going to be in the trillions.
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And on top of our deficit--it ain't pretty!
 
jiro123 said:
not necessary. we've had trillion dollars debt before. bill clinton paid it off. hopefully the next president will be able to pay off most of it but chance is probably not.
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Yeah, Clinton was awful good at that... was close to paid off, actually.

Just so shame that Bush fouled it up by putting us into much more deep with our national debts yet there is no clear sight of success in Iraq and Afghan. Can't wait to shove him off this January! :roll: lol
 
I really think F&F doesn't deserve our government taxes to clean up their very-expensive mess at all... adds that up along with our national debts that is already too deep!

Even the Big Three (autos) wants government $$ to help hem get by, too. Oh boy!
 
Today, our economy is already in deep $#it due to two banks would be owned by Bank of America that they will help them to bail it out!

Our having a deep trouble with our debt. Who blame to... US govt or
otherwise else?! So now, Banks or credit card companies are already get :Owned: due to the massive debt!! I hope our new president should fix our economy or get out of the debt.
 
just because this happened doesnt mean the wheels are off the car here... i mean yes, we're definatly in a recession, but not one so horrible that its gonna mirror the 1929 great depression or something. Certain parts of the country are thriving, unemployment is up, true, but 7% (i think thats the latest number) isnt exactly alarming. Plus the gas crisis seems to be calming down.
 
CCfan said:
Today, our economy is already in deep $#it due to two banks would be owned by Bank of America that they will help them to bail it out!

Our having a deep trouble with our debt. Who blame to... US govt or
otherwise else?! So now, Banks or credit card companies are already get :Owned: due to the massive debt!! I hope our new president should fix our economy or get out of the debt.
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Its not one man's job to fix everything. Its require entire nation to work together to recover from crisis.
 
dead money said:
just because this happened doesnt mean the wheels are off the car here... i mean yes, we're definatly in a recession, but not one so horrible that its gonna mirror the 1929 great depression or something. Certain parts of the country are thriving, unemployment is up, true, but 7% (i think thats the latest number) isnt exactly alarming. Plus the gas crisis seems to be calming down.
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Its not alarming, I suppose, unless you are one of that 7%. As the unemployment rate continues to go up, however, chances are increased that each and everyone of us will either be affected, or be close to someone who is affected.

The Great Depression started with a recession that people thought wasn't too alarming at first.
 
Pacman said:
*Scratch my head*

What's super big mess up with our economy? Fannie & Freddie company need go to bankrupt without cost us alot of $$$$ that we don't use their stupid mortgage.
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Too bad for them, get over it for Fannie & Freddie.
 
CCfan said:
Too bad for them, get over it for Fannie & Freddie.
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Yup but you should vote Obama if you are very concern about economic issue in USA, I know that he could change the America to improve on economy, market, exchange and others.

I don't want put my taxes on F&F and recently AIG.

If getting more screw up then I would move to Canada (Toronto, Vancouver) and not want send my taxes into USA for F&F, AIG or other companies are process into bankrupt.
 
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