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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (45245)	9/8/2008 12:43:02 PM
From: tonto	1 Recommendation Read Replies (1) \| Respond to of 224749

Did the taxpayer not assume a liability?

To: Kenneth E. Phillipps who wrote (45245)	9/8/2008 12:47:46 PM
From: Bill	6 Recommendations Read Replies (2) \| Respond to of 224749

That's not a gaffe. A gaffe is when the candidate mentions his "muslim faith".

To: Kenneth E. Phillipps who wrote (45245)	9/8/2008 12:50:49 PM
From: JakeStraw	2 Recommendations Respond to of 224749

Kind of like when Barry, I mean Barack said the U.S. has 57 states...

To: Kenneth E. Phillipps who wrote (45245)	9/8/2008 1:46:22 PM
From: jlallen	3 Recommendations Respond to of 224749

Kenneth...are you stupid or being deceptive.... FNMA and FNMAC were set up by the feds and although private have always been backed by implicit guaranty of the US Treasury.....They are exempt from SEC oversight. They are GSEs (government sponsored entities) almost like quasi governmental agencies for all intents and purposes.... Both Fannie and Freddie should long ago have been phased out as “government sponsored enterprises,” or GSEs. The implicit (now explicit) guarantee of U.S. government backing allowed the firms to borrow cheaply in the capital markets. If fixed-income (debt) investors - and equity investors as well, for that matter - believe their investments are guaranteed, they will likely invest more and with greater comfort. As a result Fannie and Freddi were able to borrow more cheaply than their rivals - namely banks, investment banks, mortgage companies and other non-bank lenders. Since Fannie and Freddie were able to borrow more for less, they were also able to post fatter profit margins and dwarfed all potential competitors. The federal government should have gradually unshackled itself from this implicit backing by simply declaring a timetable over which future debt issuance would be explicitly exempt from any government guarantees. This should have begin much longer than 8 years ago.....blaming this on Bush or solely on the Repubs. is silly.....this is a Congressional failure and one where the blame is to be shared on both sides of the aisle....