FEDS plan to save Fannie and Freddie

FEDS plan to save Fannie and Freddie

money.cnn.com

NEW YORK (CNNMoney.com) -- The Treasury Department and Federal Reserve on Sunday outlined a comprehensive government plan to prop up Fannie Mae and Freddie Mac - the two mortgage finance giants that play a crucial role in the U.S. economy.

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Reminds me of the commercial where the DAM inspector plugs a hole with a wad of gum.......

money.cnn.com
(visit the link for the full news article)

[edit on 13-7-2008 by bismarcksea]

*whistle* Monday morning sure is going to be telling when that opening bell rings.

Either this action is enough to calm investors as they said, or I won't be owning a home ever

On the flip side though, we see that even more banking power is being given to the Federal Reserve, which while it doesn't set off a red alert, certainly pricks my ears a little. Sure it's their job to be the central bank for the nation, but give them too much control over banking and soon it'll look more and more planned than free market.

reply to post by Sir Solomon


Actually the futures are way up...go figure....just goes to show you the market LOVES it when the government gets involved...except when they are making big profits though of course then its free market.

I think the term is free market profits and socialize losses.

reply to post by Sir Solomon


Mondays Plunge Protection team has just been announced it will include Superman,The Flash,Captain America,Scrooge Mc Duck the Beagle Boys and the JP Morgan allstars.

The dow probably will finish in the black tommorow however the lies,cheating,obfuscation,false rumours,manipulation,Federal Reserve throw good money after bad taxpayer ripoffs,George Bush,'Economy is strong,dollar is strong',Bernanke and Paulson,CNBC,Fox et all spin,smoke mirrors and bull# will be something to behold.

The only thing missing will be the Pope walking through Wall Street spraying holy water and casting out demons.

More dollar destruction. Loss of Reserve Currency status will destroy the dollar. They are treating symptoms and ignoring the side effects. But yeah, the lemmings will walk towards the cliff even faster for a day or so.

It'll be so convenient when the dollar collapses, then they can introduce the Amero.

I think this is all happening for a reason, time will tell.

reply to post by anglodemonicmatrix


hahaha.. that was too funny. thanks for the laugh. Cant say much bout the topic, as my knowledge strictly comes from reading. Not edumacated enough to have an opinion myself.

It doesn't seem like any permanent, large scale economic policy changes will arise anytime soon either since it's an election year. It's going to be pretty difficult for people like Bernanke(Fed Chairman) and Paulson (treasury secretary) to accomplish much at this point and they've already told a congressional committee this exact same thing. So in the meantime, whatever happens happens I guess.. But these companies should be aloud to fail and go bankrupt because there isn't anything wrong with that at all. It happens. No company invests and operates without an element of risk. In this case the risk is eliminated because they can be saved. Therefore, it creates inequity in the investment market because of the high profiles of the companies themselves. "Too big to fail" I believe is the terminology being tossed around.

-ChriS

reply to post by xstealth


IMO the fate of our economy could very well have already been decided for us. I believe that this economic downturn, the price of oil, the failures of the investment companies, and the housing market... This could all be part of the huge plan to eventually form the North American Union, and the justification to the people our government would give is the economic situation in the U.S... And if american families are hard-hit enough by economic collapse, then of coarse most americans would welcome the formation of a North American Union because, at least economically, it would be an answer and a way out of this economic mess we are in and a way to press on with some form of system with a more stable economy.

I mean look at the borders in this country. We have NOT taken the kind of strides that are needed to thwart the flood of illegals into this country. Why? It could be because the decision makers already know that the formation of the NAU is imminent therefore a waste of resources to initiate any kind of long-term immigration policy now. Not to mention the fact that beefing up resources into border enforcement would be looked upon as wasteful and unnecessary given the fact that the NAU is eventually going to create a co-existing state anyway.

-ChriS

Yeah I had a feeling the shorts were making money on friday and will make money again on monday and the little people will foot the bill.