Face It, We're Screwed

[sjl127]

http://biz.yahoo.com/nytimes/080711/...2725.html?.v=4

Bush administration considering a plan to have government take over the companies and place them in a conservatorship

Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers.

[tourrider]

Originally Posted by sjl127

http://biz.yahoo.com/nytimes/080711/...2725.html?.v=4

Bush administration considering a plan to have government take over the companies and place them in a conservatorship

Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers.

Fannie MAE & Freddie MAC are both in deep shit !

Both companies being born of congress are under federal housing regulation, and must maintain a certain "Critical Capital" level.

The action is being considered because the shares are already sliding significantly. Fannie is down 67%(this year), and Freddie is down 77%(this year) In the last week alone, Freddie has lost 45% value, and Fannie - 30%.

I do believe the top Democrates are backing this one.






"It's a Cluster Fuck Sir"

[jmiro]

socialism here we come...........

[mikepro8]

^^^^^^^^
What he said.

[duane1]

Either A Democrat or Republican gets in the white house, the screwing we're getting now. It is going to take a lot of work to change the way I feel about the government.