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US GOVERNMENT takes over mortgage giants Fannie Mae and Freddie Mac



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So, the government now owns

So, the government now owns all our houses. Private property is the core of freedom and they will end up with everything.

just did some quick

just did some quick calculation, assuming a rough estimate of about 110 million tax payers, thats a little under 2,000 dollars for each individual taxpayer at the high estimate of 200B in costs to shore up these giant lenders. Both Barrack Obama and John McCain have praised the move and think its an awesome idea. ironically both candidates are promising to lower our taxes during their presidency. so looks like we're either going to have to go make friendly with the chinese for this or get those print wheels fired up because thats a whoooole lot of benjamins to come up with.

CFR and the FEDS

sitting in a tree....

"The body is but a vessel for the soul,
A puppet which bends to the soul's tyranny.
And lo, the body is not eternal,
For it must feed on the flesh of others,
Lest it return to the dust whence it came.
Therefore the soul deceives and despises."

Unconstitutional

The government is never supposed to bail out private companies in a free market constitutional republic. Adding insult to injury, we the people will be required to pay billions of dollars in taxes for this outrageous move. This is obviously either another part of the first plank or fourth plank of the communist manifesto.

http://www.criminalgovernment.com/docs/planks.html

The government is now in control of 50 percent of all mortgages in America. When government starts controlling land and property then socialism has reared its ugly head. Welcome America to the socialist communist corporation state called the United States Corporation of America, head quartered in none other then Washington District of Corruption.

We have all in tense and purposes lost our private property rights. Now the government holds or guarantees 50 percent of all mortgages in America. So now we borrow money from the government to "buy" property that the government already controls in all tense and purposes. And people think we live in a free country...lol

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Take Back Your Country!

>>>The government is now in

>>>The government is now in control of 50 percent of all mortgages in America. When government starts controlling land and property then socialism has reared its ugly head.

United Socialist States of America

>>>We have all in tense and purposes lost our private property rights.

If your county assesses property tax, then you don't really own your property. They can assess whatever/whenever. Each of us better get elected now to put the brakes on property taxes.
Or set up a non-profit / church to own the property. In some areas these entities don't pay property tax.

Redress

The correct phrase is "to all intents and purposes." And I agree with you 100%.

"The body is but a vessel for the soul,
A puppet which bends to the soul's tyranny.
And lo, the body is not eternal,
For it must feed on the flesh of others,
Lest it return to the dust whence it came.
Therefore the soul deceives and despises."

"U.S. Government Abandoning Free Market Principles"

http://www.iht.com/articles/2008/09/07/business/07bailout.php

is the press finally catching on?

"Those who make peaceful revolution impossible will make violent revolution inevitable."

John F Kennedy

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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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Republicae's picture

I have to wonder what the

I have to wonder what the FED, and Congress, has in mind for the nearly $62 Trillion [yes, that is Trillion with a big "T"] in credit default swaps that are written against Fannie/Freddie Debt?

Now, I'm not sure just how much preferred shares there are in both Fannie/Freddie, but I would suppose its somewhere around the $36 Billion or more and then another $20 Billion in subordinated debt on top of it the massive mound of debt associated with Fannie/Freddie.

If just a minor percentage of the mortgages held by Fannie/Freddie default we could be looking at a bail out far beyond what is being publicized by the FED or the government.

There are a great many things interwoven throughout this whole mess and once the superficial cover is pulled all the way off, I have a feeling that the government's "nationalization" of these two mortgage giants will be a very big surprise to everyone concerned.

“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.

http://militantjeffersonian.com

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Fresh Video's 9/7 8:00PM

I don't endorse either of these guys but you can learn alot about the markets from them.
John Carters Free Video: FNM and FRE will not save this market.
http://www.tradethemarkets.com/public/2611.cfm
Hubert Senters Free Video: Market to trade this week.
http://www.tradethemarkets.com/public/2609.cfm

"Committed To The Eradication Of Poverty Among Patriots"

"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."

This is Daddy's Money Manager

http://www.marketminder.com/default.aspx

GLOBAL MARKET UPDATE

Amid speculation the economy is slowing, MarketMinder remains bullish on global equities. Below is a summary of today’s market action (as of market close Friday, 9/5/2008):

• Global Equities: MSCI World (-1.1%)
• US Equities: S&P 500 (+0.4)
• Best Country: US (+0.4%)
• Worst Country: Australia (-4.8%)
• Best Sector: Cons. Staples (-0.1%)
• Worst Sector: Telecom (-2.3%)
• Bond Yields: 10-year US Treasuries rose 0.02% to 3.66%

"Committed To The Eradication Of Poverty Among Patriots"

"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."

After my weekly silver/gold buy

what do you think is a good move this week?

oil

Consider going long oil on Monday.

Silver?

Futures look like they found some support at $12.

This is a support level that set up in August 2007 and then again August 15, 2008 and Sept 5.

I wouldn't bet my life on it, but it is certainly a proven support level that has held for over 12 months.

Here is what I would look at as more comforting.... I believe pro-traders probed towards that 12.00 level to see if there was still excess supply or if some demand was coming in.

Since it bounced after 4 tests over a long period of time, (if I was a silver bull) I'd put a toe in the water and trade 2-5 contracts. It will either launch very fast for a quick short term, profit or more likely chop up and down against the 12 for a week or so.

Just don't expect a smooth move yet. I don't see it.

"Committed To The Eradication Of Poverty Among Patriots"

"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."

The markets are launching like a rocket...but

The markets were poised for a trend change, uptrend after Thursday's probing plunge and Friday's upturn...but let's look at the news....

http://www.tradethenews.com/forex-news/USA-Macro-News-Econom...
Today 07:20pm
Credit markets outlook: The (FNM and FRE) rescue by the U.S. government and taxpayers means that they now really don’t have the capacity to undertake another major rescue - Robert Gottliebsen at BusinessSpectator
- "Remember that, according to the IMF, there are still huge losses to come. Any major bank or investment house that gets into trouble will have to rely on China, the Asian sovereign wealth funds and/or the Middle East to rescue it. They may turn their backs, although the Korean support of Lehman Brothers was encouraging."

USA Macro News sector headlines
Today 07:20pm
Credit markets outlook: The (FNM and FRE) rescue by the U.S. government and taxpayers means that they now really don’t have the capacity to undertake another major rescue - Robert Gottliebsen at BusinessSpectator- "Remember that, more...

Today 07:08pm
U.S. Senator Dodd: Plans a hearing on FRE/FNM bailout, says he has many questions- Dodd wants to know why the Bush administration changed course after saying that they wouldn't use bailout authority

Today 07:07pm
Some expect a stock relief rally after FRE/FNM news: Yet with little in the way of meaningful U.S. economic data until later in the week, there isn’t likely to be much resistance - Adam Carr at ICAP Australia

Today 06:54pm
Cost of FRE/FNM bailout: According to reports, William Poole, the former President of the Federal Reserve Bank of St. Louis, said the U.S. government's takeover of Fannie Mae and Freddie Mac could cost taxpayers as much as $300 billion- Note: The total more...

Today 06:45pm
FRE/FNM reaction - The Guardian newspaper: Washington's latest attempt to resuscitate the moribund U.S. mortgage business moves the housing market out of the emergency room and into intensive care but by no means cures the patient- "This is a slow more...

Copyright © 2008 Trade The News. For a free 1 week interactive trial to our audio broadcasts, research on demand, and real-time headlines please apply for a Free Trial »

"Committed To The Eradication Of Poverty Among Patriots"

"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."

Today 06:54pm Cost of

Today 06:54pm
Cost of FRE/FNM bailout: According to reports, William Poole, the former President of the Federal Reserve Bank of St. Louis, said the U.S. government's takeover of Fannie Mae and Freddie Mac could cost taxpayers as much as $300 billion- Note: The total more...

300 billion??? LMAO! where do these people get this stuff!

for me and my home, we shall worship the LORD

That's why they call it the stupid news...Poole is a FED

propagandist. $300B isn't as scarry as saying Congress gave Treasury and FED a blank check -no cap- to get the job done.

"Committed To The Eradication Of Poverty Among Patriots"

"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."

This is big news.

I wonder what is going to happen on Monday.

THE BOUNCE IS OVER

.

"The body is but a vessel for the soul,
A puppet which bends to the soul's tyranny.
And lo, the body is not eternal,
For it must feed on the flesh of others,
Lest it return to the dust whence it came.
Therefore the soul deceives and despises."