Freddie Mac Seeks $6 Billion Bailout After Worst Quarterly Loss This Year

Freddie Mac Seeks $6 Billion Bailout After Worst Quarterly Loss This Year

www.huffingtonpost.com

Mortgage finance giant Freddie Mac said on Thursday it will seek an additional $6 billion from U.S. taxpayers following its worst quarterly loss this year.

Freddie Mac has now drawn $72.2 billion from the government since it was taken over at the height of the financial crisis in September 2008. The government seized both Freddie Mac and larger rival company Fannie Mae as mortgage losses at the two firms piled up and threatened them with insolvency.

(visit the link for the full news article)

Nothing to see here, bonuses are required that's all!
In other news

Freddie Mac and Fannie Mae, the hybrid semi-private mortgage entities, are issuing seven figure bonuses to some of their executives. There is not one peep out of the media or the professional protesting mobs. No one is averse to this, no groups are planning to picket the homes of the executives. The White House is silent, both houses of congress are mute

communities.washingtontimes.com...

Libs.... this is what socialism brings you!

Do you need more proof that it just doesn't work and that money doesn't grow on trees?

Occupy Freedie Mac?
Occupy Wallstreet is stupid, wake up protestors!



www.huffingtonpost.com
(visit the link for the full news article)

reply to post by ModernAcademia


Yeah man and i just made a thread about Fanny and Freddy bonuses! That is the biggest bunch of crap i have ever read.

S and F !

Don't forget both Freddie and Fannie execs got thier bonuses for last year's "stellar" performance

Fannie and Freddie

Barney's buddies are laughing at everyone.

reply to post by ModernAcademia


Wait you had me till you... blamed it solely on "libs"... lol. The "red vs blue" in this country is so pathetic. I'm independent and for good reasons, cause of stupid nonsense like that.

First off the govt intervention occurred in sept 2008, under Bush a republican president DUH. Second a majority of republicans voted for the bailouts. Hello are you forgetting history or changing it for your silly political message? John Mccain, another republican, was one of the first guys hooting and hollering that we needed the bailouts.

Anyways blaming it all on liberals was retarded.

Originally posted by darkest4
Wait you had me till you... blamed it on "libs"... lol. The "red vs blue" in this country is so pathetic. Anyways blaming it on liberals is retarded.

You mentioned Bush...
See when I say libs i'm not talking about the Democratic party

I'm talking about Liberal progressive voters, not the govt.

Conservatives don't believe in socialism while many liberals do, as you know

I agree that it's a one party system and there are very few true ones in either party
no argument there

reply to post by ModernAcademia

Libs.... this is what socialism brings you!

What do Libs and socialism have to do with it? It was the Housing and Economic Recovery Act of 2008, signed by Bush, that gave them a blank check to bailout Fanny and Freddie. But at the same time, they enacted half-assed regulation to keep issues like this in check.

and gave the U.S. Treasury the authority to advance funds for the purpose of stabilizing Fannie Mae, or Freddie Mac, limited only by the amount of debt that the entire federal government is permitted by law to commit to.

Link

Do you need more proof that it just doesn't work and that money doesn't grow on trees?

Yes, money does grow on trees! That's why they can keep printing it. Our monetary system is based on how many trees they can put ink on. Neither the Left or the Right know anything about fiscal responsibility!

Silly Republicans........OWS is still making more of a difference than you are. It's people like you that can sit and be a professional "armchair quarterback" while people like me and others are out protesting this very sort of government corruption.

reply to post by ModernAcademia

Conservatives don't believe in socialism

Conservatives absolutely believe in socialism!

Firemen, police, roads, sanitation and other services rendered by the government are SOCIALIST programs! Churches and their communities are SOCIALIST entities.

The problem here is that conservatives have a problem actually understanding what socialism is because you have been trained to fear the very utterance of the word.

Read a dictionary and don't be afraid of what you don't understand!

reply to post by ModernAcademia


Uh President Bush, who was president when the takeover occurred, is a "conservative" as are the republican congressmen who voted on these bailouts and takeovers. So clearly if you say these bailouts/takeovers were not moves made by conservatives then obviously all the "conservatives" with any power don't practice what they preach and blaming it on "libs" instead of both of them makes zero sense what-so-ever.

And besides if you want to say " o well all those republicans are not real conservatives" then okay, well uh nowhere in definition of liberalism does it say "we sell out taxpayers to corporations and support bailouts" either... so two can play that stupid game and it still makes zero sense to blame it all on "libs".

reply to post by ModernAcademia


I say we let his ship sink and offer him 25 cents for his shirt. Sick and tired of these guy's asking for bailouts when they want to remove people from their homes because they need a bailout. Where is my bailout?

Guys guys guys....
I didn't want to turn this into a partisan thread

Please understand that if liberals didn't believe in socialism at all and an ever-expanding govt. then it would have been way more difficult for Obama to pass the stimulus packages and bailouts.
Support from his core voters helped that initiative, you can't detach them completely from POTUS.

And when I say libs I do not mean Obama, I mean liberal VOTERS, NOT elected officials.
So stop bringing Bush into this, I am talking about people

Also more and more and more regulation, again that's a left thing not a right thing.

And no conservatives don't believe in socialism, and I mean conservative voters NOT republican elected officials.

no, no, no, NO!!!!

hell, if nobody helps me out with my debt, why should they save his butt

I am raging mad

NO, Take his home, and put him on the street like they do to most poor and middle class

reply to post by ModernAcademia




Ok, you win!

Originally posted by sheepslayer247

What do Libs and socialism have to do with it? It was the Housing and Economic Recovery Act of 2008, signed by Bush, that gave them a blank check to bailout Fanny and Freddie. But at the same time, they enacted half-assed regulation to keep issues like this in check.

If the LIBS didnt want this,they would have easily shot it down........

Obviously "hope and change" only works,when you can put people in office,that cant be bought.

Again,where is the OUTRAGE of this administration from the very Liberals who put this idiot in power????

Where are the marches?

Thats right......Wall Street.

So basically they need a bailout to cover more bonuses they have promised. How is that not ridiculous? When my place of employment has a bad year nobody gets bonuses. I understand its more important to have a job than it is to get a bonus.

This whole situation makes me sick.

reply to post by sonnny1

If the LIBS didnt want this,they would have easily shot it down........

You're right! Why didn't the Dems shoot it down?

Why didn't the 34 Republicans who voted for this legislation shoot it down? They must be all liberals!

But that won't matter to you, will it? We can't be consistent now can we?

They are both at fault but we must insist that the radical libs take all the blame?

Are you being serious or are you trying to insult my intelligence?

Originally posted by ModernAcademia

Freddie Mac and Fannie Mae...are issuing seven figure bonuses to some of their executives.

Occupy Wallstreet is stupid, wake up protestors!

This is the very essence of what OWS is protesting!

They are awake.

The Americans thrown out of their house because they missed a single payment after losing their job would like a bailout. The Americans that put themselves into debt being ripped off by the education scheme that is modern day college would like a bailout. The highest prison population in the world, most of whom are locked up simply because the same Government that ships in drugs through our borders decides they want to tell people what they can and cant put into their own bodies would like a bailout (or even freedom for that matter). The vet living on the street thats stepped over on a daily basis by the very same people that shout 'SUPPORT THE TROOPS' would like a bailout.

Originally posted by sheepslayer247
reply to post by sonnny1

 

If the LIBS didnt want this,they would have easily shot it down........

You're right! Why didn't the Dems shoot it down?

Why didn't the 34 Republicans who voted for this legislation shoot it down? They must be all liberals!

But that won't matter to you, will it? We can't be consistent now can we?

They are both at fault but we must insist that the radical libs take all the blame?

Are you being serious or are you trying to insult my intelligence?

You are absolutely right!! Blame them all,but at the end of the day,their is only ONE person who signs the check........................

No one is pointing their finger at him when he signs,just the guy cashing it? Give me a break.

reply to post by ModernAcademia

Occupy Freedie Mac?
Occupy Wallstreet is stupid, wake up protestors!

Um....huh? The banker bailout is one of the biggest things that the occupy protesters are upset about. Why do you think one of the most common chants is "Banks got bailed out, we got sold out"?They're very awake and aware of the bailouts, and are very upset about them. I think it's you that needs to wake up.