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It may come as little surprise that the firms highlighted for a possible future collapse were Fannie Mae and Freddie Mac. These institutions represent nearly half of the U.S. housing market, backing $5 trillion of the $12 trillion worth of American mortgages and home loans.
It was revealed Monday that a Treasury Department takeover of the two government-endorsed giants was imminent. News of the deal sent Fannie and Freddie shares plummeting in afternoon trading sessions as shareholders dumped stock to avoid losing everything to the government reorganization.
Originally posted by kosmicjack
Respectfully, I think you need to change the title of your OP. The article says "U.S. bank" but does not name a specific bank. Your title says "U.S. Bank", which could imply U.S. Bancorp - a highly reputable bank backed by Warren Buffett's Berkshire Hathaway and, by all accounts, stable.
No need to freak people out, the situation is bad enough as is...
Originally posted by marg6043
It may come as little surprise that the firms highlighted for a possible future collapse were Fannie Mae and Freddie Mac.
Originally posted by wolfmanjack
First off let me make it clear i don't know much about banking etc
That said .. Why not just nationalize the Fed? The Federal Reserve isn't Federal in anything other then name. Its a private entity. This is one thing i never have been able to understand. Why does the Government pay for money it should be making itself? Etc..
The entire principle of paying interest on money that has just been made etc doesn't make sense to me at all. I see no reason at all why the federal government couldn't nationalize the Fed and curb this stupid practise in the butt.
Could someone explain to me why this could not happen (Other then the bankers wouldn't let it) And also why it shouldn't happen. (Other then the bankers wouldn't like it)
Seriously ? Why shouldn't the Federal Government just nationalize the parasitic fed ? The Fed is nothing more then a Leach.
Originally posted by jimmyjackblack
Yeah, the economy is getty pretty bad.
I just had to pay $7 for a bag of roasted/salted nuts
I remember when they were $1.50.
Even though roasted/salted nuts are at $7 and Beer nuts are around $3.50, you can still find Deer nuts under a buck.