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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (34087)	9/21/2008 10:50:29 PM
From: sylvester80	Read Replies (1) \| Respond to of 149317

Their loans did not cause this problem. The AAA CDOs (when in fact were junk rated full of toxic mortgages) sold by wall street investment banks did. Freddie and Fannie were some of those buyers just as many other banks and funds all over the world. So I repeat, wall street investment banks pushed loan officers with double the bonuses to get consumers into these toxic loans that they then repackaged them into CDOs and which credit houses rated AAA to be sold to unsuspected buyers as top rated grade investments. So you better wake up to what has really happened here... because wall street's Paulson is trying to pull another con job out there...

To: Bread Upon The Water who wrote (34087)	9/21/2008 11:00:53 PM
From: LLCF	Read Replies (1) \| Respond to of 149317

<If those guys (Freddie & Fannie) hadn't bought the loans or said they would stop lending to banks who made them they, the loans, wouldn't have happened.> That's right. Although plenty of loans were being bought by others in the market. Also, the government knew FNM was a big mortgage buyer... that IS their job, and yet they deregulated the entire business! Remember this is taking down giants with much larger market caps overall.... Obviously it goes WAY beyond FNM. DAK