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Fannie and Freddie siezed.

This is a discussion on Fannie and Freddie siezed. within the Puff Banter forums, part of the Everything But Cigars category; Fannie Mae and Freddie Mac were siezed by the federal government sunday. I can only see this ending badly for ...

  
  1. #1

    Puffer Fish with some spikes Drazzil's Avatar


     

    Fannie and Freddie siezed.

    Fannie Mae and Freddie Mac were siezed by the federal government sunday.

    I can only see this ending badly for our already terrible economy. Without Fannie and Freddie to hold things up, I'm afraid our economy and by extention the worlds is in for an extremely bumpy ride. It also gives credance to my "world depression" theory that I posted eleven months ago.

  2. #2

    Puffer Fish with many spikes


     

    Re: Fannie and Freddie siezed.

    What are you talking about? Fannie and Freddie were saved by the government last weekend.

  3. #3

    Rock a mullet like a STAR mugen910's Avatar


     

    Re: Fannie and Freddie siezed.

    I've never been a fan of Gov't intervention when it came to economy...so this will be interesting.
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  4. #4

    Puffer Fish with some spikes Drazzil's Avatar


     

    Re: Fannie and Freddie siezed.

    They werent just bailed out, now the government is officially "siezing" these two companies, lock stock and barrel.

  5. #5

    Puffer Fish with some spikes Drazzil's Avatar


     

    Re: Fannie and Freddie siezed.

    You know, I just realized that this is in the "banter and conversation" forum, when it probabally belongs in the "general" thread. May need moving.

  6. #6

    Puffer Fish with many spikes


     

    Re: Fannie and Freddie siezed.

    OK fine you can call it what you want, but please elaborate on how this will end badly...

  7. #7

    No longer a community member.


     

    Re: Fannie and Freddie siezed.

    This will be BAD??

    Fannie Mae has been hemorrhaging money for years....this is a GOOD thing that they seized it!!

  8. #8

    No longer a community member.


     

    Re: Fannie and Freddie siezed.

    Quote Originally Posted by Drazzil View Post
    They werent just bailed out, now the government is officially "siezing" these two companies, lock stock and barrel.
    Actually, they were not seized. The govt. bailed them out and recieved majority ownership for the investment. I believe it was 72% or thereabouts. The remaining stock is still held by investors.

    In a seizure, there is not a purchase. In this case there was a monetary transaction and ownership interest exchanged. The govt. will still have to invest billions more to make the firms solvent though.

    I am not judging whether this is a bad or a good thing for us and the economy, just clarifying the transaction. There is a world of difference in a seizure and a bail-out.

  9. #9

    Young Puffer Fish SSatVT's Avatar


     

    Re: Fannie and Freddie siezed.

    It is just another example of how are government is slowly turning into a socialist state.

    I do not think the government should be bailing anybody out. If a business is not run correctly then it should fold. I am aware of how Frannie and Freddie was loosing tons of money, but that is what happens when you take on too much risk and people stop paying bills.

    But I will stop there before my blood pressure starts to rise...
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