Don't Even Dream of It, Fannie Mae
Claire Berlinski, Ed. ·
Nov 9, 2011 at 3:13am
Please tell me we're just going to laugh at this request:
WASHINGTON — Mortgage giant Fannie Mae is asking the federal government for $7.8 billion in aid to covers its losses in the July-September quarter.
The government-controlled company said Tuesday that it lost $7.6 billion in the third quarter. Low mortgage rates reduced profits and declining home prices caused more defaults on loans it had guaranteed.
Shouldn't someone slap them just for daring to ask?
- Comment (8)
- · Quote
- · UnfollowFollow (1)
Comments :
Feb '11
Re: Don't Even Dream of It, Fannie Mae
Have a heart. They no doubt have bonuses to pay.
Dec '10
Re: Don't Even Dream of It, Fannie Mae
Agreed. I do have a pretty clear recollection of Obama declaring that these entities are "independent." Since that must be true, we have no grounds to simply dole out an amount equivalent to the annual income of 175,000 Americans.
Edited on Nov 9, 2011 at 4:02amJul '10
Re: Don't Even Dream of It, Fannie Mae
Beasley
....we have no grounds..... · Nov 9 at 3:36am
Hasn't stopped the government yet.
Dec '10
Re: Don't Even Dream of It, Fannie Mae
Jimmy Carter
Beasley
....we have no grounds..... · Nov 9 at 3:36am
Hasn't stopped the government yet. · Nov 9 at 3:41am
Its enough to make you want to go and de-fund the whole bloody mess sometimes, is it? Chuck Palahniuk seemed to have a clever solution to it all, that always puts a smile on my face.
Aug '10
Re: Don't Even Dream of It, Fannie Mae
Beasley
Agreed. I do have a pretty clear recollection of Obama declaring that these entities are "independent." Since that must be true, we have no grounds to simply dole out an amount equivalent to the annual income of 175,000 Americans. · Nov 9 at 3:36am
Edited on Nov 09 at 04:02 am
Well he also said that the Iranian pursuit of nukes was unacceptable too. Also Gitmo.
Whatever Obama says is unacceptable to him is really acceptable to him.
Fannie and Freddie were the entities that were designated to hold the poisoned CDOs and and the request for bucks is just part of the bank bailout that hasn't played out yet.
Oct '11
Re: Don't Even Dream of It, Fannie Mae
If memory serves, 12.5 million was paid in bonuses to managers at Fannie and Freddie for "achieving modest goals". When spokesman at Whitehouse was asked about it last week, his answer was that Fannie and Freddie were independent, therefore the Whitehouse had no comment. Compare that to Obama's blistering attack on Wall Street bonuses post bailout.
Oct '10
Re: Don't Even Dream of It, Fannie Mae
My attitude on Fannie & Freddy is that we must accept this particular bailout as the cost of maintaining the dollar's position as the reserve currency, since Fannie/Freddy backed debt is widely used as foreign exchange reserves.
It's very distasteful, and I suspect the government is still encouraging the use of GSE debt as FX reserves. And why are they still corporations? I thought we'd all acknowledged that the GSEs aren't really private companies when FHFA took them into recievership; why are the corporate structures still intact? Just admit that they're public entities already!
And lastly, anyone else shocked that Democrats are still defending the GSEs?
Aug '10
Re: Don't Even Dream of It, Fannie Mae
Claire, are you 100% sure that advocating Fannie-slapping doesn't violate the CoC?