U.S. to seize mortgage giants Fannie Mae, Freddie Mac
Posted September 6th, 2008 by Meistersinger
output
WASHINGTON (AP) -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.
The news, first reported on The Wall Street Journal's Web site, came after stock markets closed. In after-hours trading Fannie Mae's shares plunged $1.54, or 22 percent, to $5.50. Freddie Mac's shares fell $1.06, or almost 21 percent, to $4.04. Common stock in the companies will be worth little to nothing after the government's actions.
Fannie Mae and Freddie Mac lost a combined $3.1 billion between April and June. Half of their credit losses came from these types of risky loans with ballooning monthly payments.
Critics say the open-ended nature of the rescue package could expose taxpayers to billions of dollars of potential losses.
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And its only the beginning... this is going to be a rough
month!
Mark my words, we need to get busy!
Mike
"Fire Team for Freedom" and "Revolutionary Business"
visit www.mikeandjake.com
bend over, grab your ankles without vasoline.
HYDROMAN
yep
The most intelligent George Carlin rant ever:
WARNING: If harsh language irritates you, exercise your freedom of choice, and CHOOSE NOT TO WATCH IT.
The last minute of this is what I thought of when I red your comment hydro.
http://www.youtube.com/wa...
Bank failures on Friday. Bailouts on weekends.
___________
Lisa C.
If you love freedom, please consider joining: www.campaignforliberty.com
www.women4ronpaul.com -- provider of a new backup chat room for Daily Paulers in a "plan B" situation.
It's BFF
Bank Failure Friday
Funny; I saw this cycling through the Active Forums sidebar, and was wondering why that old story was making the rounds again...
...and then I realized, it wasn't a rerun.
So now we have Silver State and Fanny and Freddie. Anyone else leaping into the fray on today's BFF?
So far that's the schedule.
Did you see my answer below. If you were seriously looking for coins, Monex may have some. I know they told me they did have some a day or two ago, but you gotta love it that they actually ran out of 100 oz. bars.
At this point
We should all get a free house. We're paying for one anyway.
Fannie and Freddie
Didn't our government already give them money to keep them a float? I think I saw the committe meeting on c-span a month of two ago?
No
They just got authorization from Congress for an UNLIMITED amount of funding "IF NEEDED" Well, look what is coming....
The government is going to own half the houses in America now
www.dvds4delegates.com the newest and possibly the greatest weapon the Revolution now possesses.
wow that should make it a lot easier for them to control everyone. This is bad news, now they have one of the most important things in our lives to hang over our heads.
My question is to all the other metals people out there
Between this news and Silver State bank folding, what do we think will happen with metals on Monday if anything (as it all may be already priced in)?
Metals
What is happening in the Metals market, is the same thing that is happening in every market in my opinion. It is all Deflating......and I could get into the conspiracy stuff, but lets just leave that alone.
Question? Is the Dollar rallying? Answer NO!! The other currencies are falling worse, so it looks as though the dollar is rallying.
It is weird.
I am so heavy in Gold and Silver....and of course I took a bath over the past 2 months...OR DID I??? The reason I say "Did I?" is because the only time you lose, is when you sell....and I am buying all the way into the ground...if that is where it is going.
If you want my true answer to your question.....What Metals will do on Monday....they will continue to go down, and so will oil, etc....
The SHOCK of all of this dollar printing has not started to hit yet. The fed made a deal with many foreign countries to prop up the dollar for some reason...and you are witnessing this at the cost of the Euro, Pound, etc...
Read this...
http://www.greenenergyinv...
This is just one article....
Just Google away to find the truth....
The dollar is not gaining...it is just being propped up by China...temporarily...
This will get very interesting....
take for 2 reasons! 1 the
take for 2 reasons! 1 the elections! 2- so that it gives those holders of dollars more time to get out of the dollar and to buy the metals that oone can find! look at the gold market.. almost everynight over night the gold and silver markets go up! then mysteriously when london and asian markets close gold and silver go down! the asians, arabs and russians- chinese know what is happening the average stupid joe 6 pack here in the states does not! the moron on the daily paul who thinks there is no manipulation is going to take it in the rear end within 6 months! MARK MY WORDS!
as for me and my home, we shall worship the LORD
bigmike
After watching the fascists at work at the RNC this week, why would you think the price of silver is accurate? The more I look at the world, the more it looks like 1984.
My only advice is go out and shop for some and see what price and availability are like.
If you do, can you report back your findings?
___________
Lisa C.
If you love freedom, please consider joining: www.campaignforliberty.com
www.women4ronpaul.com -- provider of a new backup chat room for Daily Paulers in a "plan B" situation.
I know that
Monex ran out of 100 oz. BARS but they did have some coins as of yesterday or the day before I believe.
I hope you guys read this!
http://www.investmentrari...
as for me and my home, we shall worship the LORD
Mike, silver and gold are
Mike,
silver and gold are hard to find now! with what only 1% of the population participating..??? as the rest of the stupid americans wake up to whats happening what do you think will happen when they all try to rush in and buy and there isn't any? these people that come on the daily paul with there charts, and addvice to "buy with caution" or there gold and silver are terrible investments statements are going to be sucking ass here within 6 months.. this thing is getting worse by the hour! we follow Ron Paul because we are tired of corrupt government. some of the most stupid people I see are on the daily paul saying the support Ron Paul but listen to every stupid lie the government tells them about the banks and the economy.. I have been telling people to buy! even at 21.00 bucks silver is still a good buy! people just don't get it! if silver were at 2.00 an ounce but you couldn't get any what good does a 2.00 price do you! I would be buying hand over fist! I would be buying anything I could right now! I hope folks have not let this BS manipulation by the very people we true Ron Paul supporters HATE scare them.. thats all they are trying to do is scare good people out and they are coming in and buying it all up.. look at gold today! gold up about 20.00 an ounce till the london market closes! then all the sudden down 15.00 bucks and the manipulators here in the states run it lower! I have posted 2 articles today showing the manipulation.. any of the morons here on daily paul who do not think there is manipulation are the stupidest SOB's I have ever seen! BUY FOLKS! WHEN THE REST OF THE PUBLIC PANICS TO BUY YOU WON'T GET IT AT ANY PRICE! freddie and fannie folding is just the beginning! we are seeing a manipulated 'deflation' that is short term.. in 6 months it will turn back to inflation and then mass inflation! BUY AN HOLD FOR THE LONG TERM... NOT TO MAKE A QUICK BUCK! SILVER EVEN AT 21.00 IS A GOOD BUY! and again what good does iot do to have the spot price at 12.00 when you can't find it? or find very little! READ BUTLER everything he has talked about for 8 years is happening!
as for me and my home, we shall worship the LORD
the paper price is becoming irrelevant,
bigmikedude. It no longer matters what the official prices are if you can't find product.
"Those who make peaceful revolution impossible will make violent revolution inevitable."
John F Kennedy
How can all of this stuff
be happening....and Obama and McCain just keep the dog and pony show so happy.....it is amazing
Wow... whatta shocka...
To the sheep. The housing act was a power grab by the fed to get even more control over us. They are the bankers for the NWO's new Homeland Security Government that is lurking as a thief in the night waiting to slit our throats.. of course... once they get every dime they can out of us.
Does my burka make my butt look fatwa?