The Fannie and Freddie doomsday scenario
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http://money.cnn.com/2008/07/09/news/companies/benner_fanniefreddie.fortune/
Type of Content: Article NEW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer? It's been a brutal week for Freddie (FRE, Fortune 500) and Fannie (FNM, Fortune 500). A Lehman analyst report Monday kicked off a stock rout that had shares in the mortgage finance giants hitting fresh multi-year lows Thursday. Freddie plummeted 22% Thursday. Fannie was down nearly 14%. Read »
Created 25 weeks 4 days ago
Made popular 25 weeks 4 days ago |
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The Government shouldn't be in control of any part of the market anyway. The Virginia rebel is probably right though, we taxpayers will likely be the ones to foot the bill.
Always vote for principle, though you may vote alone; and you may cherish the sweetest reflection that your vote is never lost.--John Quincy Adams
I have to say that I am glad to see two products of FDR's new deal go under. The only bad thing is that the government will now take full control instead of partial control. All this using our tax money of course.
The Virginian Rebel
www.virginianrebel.com