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Fannie/Freddie Bailout. — Brooklynian

Fannie/Freddie Bailout.

davefabian
davefabian
edited November -1 in The Lounge / Random Stuff
Fannie/Freddie bailout


http://www.nytimes.com/2008/09/06/business/06fannie.html?hp

From the third paragraph (as of 9:31 PM Fri the 5th): "It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars and make any rescue among the largest in United States history."

Comments

  • davefabian
    davefabian

    Subject: Re: Fannie/Freddie Bailout.

    Is anyone perturbed by this, or is this 'just fine' ?

    http://www.nytimes.com/2008/09/07/business/07fannie.html?src=linkedin

    From the 1st paragraph: "The government’s planned takeover of Fannie Mae and Freddie Mac, expected to be announced on Sunday, came together after advisers poring over the companies’ books for the Treasury Department concluded that Freddie’s accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter. "
    davefabian wrote: Fannie/Freddie bailout

    http://www.nytimes.com/2008/09/06/business/06fannie.html?hp

    From the third paragraph (as of 9:31 PM Fri the 5th): "It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars and make any rescue among the largest in United States history."
  • whynot_31
    whynot_31
    it will allow the government to maintain the illusion that the country is not doing as badly as it is ...it will just buy the bad debt.

    It's only a matter of time before the US stops being the most stable place to invest ...china, canada and the middle east will decide to grow thier $ elsewhere, and the US will have to spend the majority of its budget on debt maintenance.

    "...c'mon were Americans, we all deserve a granite counter top or two. And, now, the gov will bail me out if I can't make the payments."
  • armchair_warrior
    armchair_warrior
    they should just let the damn banks fail. put their bosses in jail.
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