You're mine now !!!

[SteamWake]

Obama refuses repayment of Tarp funds, maintains control of the banks.

http://online.wsj.com/article/SB123879833094588163.html

Also when you werent paying attention.

"Fannie Mae & Freddie Mac employees get big bonuses, bigger than AIG's"

http://www.cnn.com/2009/POLITICS/03/19/fannie.bonuses/

[GoldenRivet]

I am Jack's complete lack of surprise

[UnderseaLcpl]

How depressingly typical. Change indeed.

So..... who wants to join my militia?

[GoldenRivet]

Originally Posted by UnderseaLcpl

How depressingly typical. Change indeed.

So..... who wants to join my militia?

Im in

[AVGWarhawk]

Well, Freddie Mac and Fanny Mae...did we expect anything less I'm sure Barney Frank will dig into their pants....ah ur...pockets and get it back.


Obama and keeping control. In a way, I'm ok with this. We see what happened when no one was looking. These institutions brought the world to a stop economically. I think this is good for a while. However, I would like my money back with interest after a while.

[GoldenRivet]

Originally Posted by AVGWarhawk

However, I would like my money back with interest after a while.

yeah right

[UnderseaLcpl]

Originally Posted by AVGWarhawk

Obama and keeping control. In a way, I'm ok with this. We see what happened when no one was looking. These institutions brought the world to a stop economically. I think this is good for a while. However, I would like my money back with interest after a while.

If you think there's even a remote responsibility that the Federal Government will do this for "a while" or that you'd ever get some kind of net profit out of your taxpayer dollars, I think you are in for a disappointment my friend.

What I fail to understand is how private banks are still seen as the causation of all this. Fannie and Freddy were by far the biggest subprime lenders, the state requires banks to give loans to subprime customers in some cases, and the Fed made subprimes the only reasonable approach to profitability by keeping the interest rates so low for so long.

[GoldenRivet]

"all of your banks are belong to us"

[AVGWarhawk]

Originally Posted by UnderseaLcpl

If you think there's even a remote responsibility that the Federal Government will do this for "a while" or that you'd ever get some kind of net profit out of your taxpayer dollars, I think you are in for a disappointment my friend.

What I fail to understand is how private banks are still seen as the causation of all this. Fannie and Freddy were by far the biggest subprime lenders, the state requires banks to give loans to subprime customers in some cases, and the Fed made subprimes the only reasonable approach to profitability by keeping the interest rates so low for so long.

Come on there is always HOPE for my CHANGE to come back to me Let's face it, the current managers can not manage it. Let's give a shot to those that do not pay their taxes and see how they do Sounds like a plan to me. Congress has been making things up since Obama took office. How is this any different?

all of your banks are belong to us

All I can do at this point is . Anything more and I would go insane.

[Platapus]

I think I am going to put all my money in Tin Foil. I think there will be a run on the market.

[UnderseaLcpl]

Originally Posted by AVGWarhawk

Come on there is always HOPE for my CHANGE to come back to me Let's face it, the current managers can not manage it. Let's give a shot to those that do not pay their taxes and see how they do Sounds like a plan to me. Congress has been making things up since Obama took office. How is this any different?

I have just discovered that I am a humorless brick

[SteamWake]

What gets me is that the media and 'popular opinion' following closely in their footseps raised holy hell when the AIG bonuses were lambasted.

Now the feds dole out bonunsus (100% taxpayer money) to the stellar management of Fannie Mae and you dont hear a peep out of either the media or the public.

Whats up with that ?

[AVGWarhawk]

I did hear something in the news about it but since Barney Frank is involved....I'm thinking it was asked the news keep it low key.

[mookiemookie]

Originally Posted by UnderseaLcpl

What I fail to understand is how private banks are still seen as the causation of all this. Fannie and Freddy were by far the biggest subprime lenders, the state requires banks to give loans to subprime customers in some cases, and the Fed made subprimes the only reasonable approach to profitability by keeping the interest rates so low for so long.

No. Freddie and Fannie are mortgage guarantors, not lenders. They were not the largest subprime lenders, or even holders of subprime debt.

From 2004-2006, Fannie and Freddie went from holding 48% of the subprime debt sold into the market to holding 24%. That was because of the rise of the private label securitizers issuing subprime debt and MBS.

Furthermore, I don't know of any banking regulation that imposes any quotas on how many subprime loans a bank has to make.

I do agree with your last statement though. Ultra low rates and Wall Street greed were what got us into this.

[SteamWake]

Originally Posted by mookiemookie

Furthermore, I don't know of any banking regulation that imposes any quotas on how many subprime loans a bank has to make.

It was 'recommended'

http://iperceive.net/hidden-clinton-...or-minorities/