Thread: fannie and freddie are getting bailed out, and the big three could be next

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  1. #1 fannie and freddie are getting bailed out, and the big three could be next 
    http://www.iht.com/articles/2008/09/...ess/fannie.php

    :mad:

    So now fannie's problems and freddie's problems are now my problem too, since they will use billions or maybe even trillions of our tax dollars to bail them out by buying them.

    And if that isn't bad enough, the big three (who are not so big anymore) also want to be bailed out.

    http://www.breitbart.com/article.php...show_article=1

    This is nothing more than socialism for the rich.

    The failure of these companies would be bad for the economy in the short term, but good in the long term, since they will cause money to be used more wisely and efficiently. If people will see that the government will not bail them out, they will not take stupid risks.

    It is not the job of the federal government to protect people, or billion dollar corporations, from their own stupidity.
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    Senior Member FeebMaster's Avatar
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    It's not socialism when Republicans do it.
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    But, but, but the economy is doing really, really well. All of this is simply the liberal media trying to influence the election! I got mine, what's wrong with you! When I look around, there's just as many cars on the road, just as many people in the malls, just as many people going on vacations (to Sandal's of course) as there ever were. The liberal media is in the pocket of the Dems and this is all lies, lies to you hear!!! :mad:
    Last edited by Cold Warrior; 09-07-2008 at 10:12 PM.
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    Senior Member OwlMBA's Avatar
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    Welcome to the new era of government-guaranteed businesses. First the banks, now the lenders, and next will be the Auto Industry - all failed businesses rescued by the American Taxpayers.
    **** Obama and **** you too.
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    Senior Member Troll's Avatar
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    Quote Originally Posted by FeebMaster View Post
    It's not socialism when Republicans do it.
    Neocon Economics 101.
    Nothing helps a bad mood like spreading it around.
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    Quote Originally Posted by OwlMBA View Post
    Welcome to the new era of government-guaranteed businesses. First the banks, now the lenders, and next will be the Auto Industry - all failed businesses rescued by the American Taxpayers.
    In 1974, our wonderful democratic controlled congress decided that workers pensions funds of med. and large companies needed protection from bankruptcy or going broke so that they would not be left high and dry. Now that we have seen a number of big Corporations go under, they have dumped their pension liabilities on the Fed. government. This bail out to the tune of trillions is on its way because the amount collected is only half of the amount of paid out. Major corporations and states like CA, NJ, CO have large unfunded liabilities in their pension system. The Government Pension Insurance system will be another S & L debacle and will eventually go broke. BTW, a 65 year old Delta airline pilot receives $44,300 per year from this Federal program.
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    Quote Originally Posted by Cold Warrior View Post
    But, but, but the economy is doing really, really well. All of this is simply the liberal media trying to influence the election! I got mine, what's wrong with you! When I look around, there's just as many cars on the road, just as many people in the malls, just as many people going on vacations (to Sandal's of course) as there ever were. The liberal media is in the pocket of the Dems and this is all lies, lies to you hear!!! :mad:
    Actually, the economy is not doing as bad as the liberal media wants you to think. We are not in a recession, but a slowdown. GDP has not stopped growing every quarter, but it is growing at a slower rate. The economy is only officially in recession when there are two consecutive quarters of shrinking GDP, which we didn't have even one quarter of.

    That being said, the housing sector is struggling greatly, and so is the banking system. The automotive industry, is not doing too badly, its just that the "big three" do not manufacture many cars that americans want, and are beholden to unions.
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    Quote Originally Posted by mark1 View Post
    Actually, the economy is not doing as bad as the liberal media wants you to think. We are not in a recession, but a slowdown. GDP has not stopped growing every quarter, but it is growing at a slower rate. The economy is only officially in recession when there are two consecutive quarters of shrinking GDP, which we didn't have even one quarter of.

    That being said, the housing sector is struggling greatly, and so is the banking system. The automotive industry, is not doing too badly, its just that the "big three" do not manufacture many cars that americans want, and are beholden to unions.

    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

    Who's to blame for the "spotty patches:"

    1. Congress for the last two years only (or before 1994)
    2. Bill Clinton
    3. Liberal media
    4. Jimmy Carter
    5. Barack Obama

    Got it!
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    Quote Originally Posted by Cold Warrior View Post
    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

    Who's to blame for the "spotty patches:"

    1. Congress for the last two years only (or before 1994)
    2. Bill Clinton
    3. Liberal media
    4. Jimmy Carter
    5. Barack Obama

    Got it!
    King George of course is the blame for everything. If you have hemroids, it could be the Kings fault. If Obama is elected, I predict that things will get worse. Then you can rail about the Magic Negro. That will be a welcome relief and then you might see the sky falling. However, every thing will be peaches and cream and your boy can part the waters and make everything okay because it will be Bushy fault.

    When we have another attack on our soil, you can say, damn that Bushy was lucky when he was Prez. That rabbit's foot protected us all. You know, if only he had passed that lucky charm to his successor, everything would have been okay. Let's repeal the Patriot Act and when NYC gets blown up again, it will be all Bushy fault.
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    Quote Originally Posted by lacarnut View Post
    King George of course is the blame for everything. If you have hemroids, it could be the Kings fault. If Obama is elected, I predict that things will get worse. Then you can rail about the Magic Negro. That will be a welcome relief and then you might see the sky falling. However, every thing will be peaches and cream and your boy can part the waters and make everything okay because it will be Bushy fault.

    When we have another attack on our soil, you can say, damn that Bushy was lucky when he was Prez. That rabbit's foot protected us all. You know, if only he had passed that lucky charm to his successor, everything would have been okay. Let's repeal the Patriot Act and when NYC gets blown up again, it will be all Bushy fault.
    How can you say that. You know that Magic Negro (btw, why aren't you calling him your usual term for blacks, i.e., " black beauty"?), is going to lose big. He's even going to lose NJ!
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