Comments on: What Does the Freddie/Fannie Bailout Mean to You?

By: Random

Random — Fri, 12 Sep 2008 01:39:45 +0000

I dunno… I kind of don’t blame the government for preventing the certain catastrophe, instead of not intervening on the CHANCE that there MIGHT be a worse catastrophe later. Besides, the promise had already been made long ago; wouldn’t it be “bad for future business” to go back on their word now?

Of course, whether the promise should’ve been made in the first place is up for harsh debate. Just tossing in the two cents.

By: J

Thu, 11 Sep 2008 19:07:42 +0000

Well said V.

By: motorkitty

motorkitty — Thu, 11 Sep 2008 15:16:06 +0000

V- I agree with you. We, as a country should’ve bucked up and let them fail. We are a strong, resillient nation that can face this issue and move past it. Now we have just made things worse for the future. The market would’ve equalized itself in time. I hate to see incompetence and corruption get rewarded on the taxpayers dime.

But I did just name my 2 new goldfish Frannie and Freddie.

By: V

Thu, 11 Sep 2008 14:46:41 +0000

It is immoral to pay off business for their failures. Fannie Mae and Freddie Mac took on these risky loans with the understanding the Federal Government would bail them out if things went bad. In a free market companies like this would fail and rightly so. Bad business practice should not be rewarded by bailout from corrupt leeches (the government). If you take away the risk of failure, then what is the point of doing business efficiently or profitably.

And woe betide us if the Federal Reserve runs the presses in order to pay off these debts.

Central planning has been debunked again and again. How many times must this lesson be learned? It seems as though humanity is forever doomed to suffer the machinations of fools.

By: BassMan

BassMan — Thu, 11 Sep 2008 13:32:15 +0000

Gee, maybe there was a good reason they put all that regulation on financial institutions back in the 1930s.

By: NicoNicoNico

NicoNicoNico — Thu, 11 Sep 2008 06:00:13 +0000

I’m lucky that I sold my house (APR mortgage and all) before all this started. The market was starting to plummet then, but I only lost a little.

What does suck is I’m now trying to sell a condo now. If I don’t get what I paid for out of it, I’m screwed. Great job, America. Meet me again when I move to South America (got family in government down there – hehe).

By: Recluse

Recluse — Thu, 11 Sep 2008 02:29:45 +0000

Sounds more like a good example of why capitalism has to has some checks on it. BTW, the former heads of Freddie and Fannie got multimillion dollar severance packages. Don’t we all wish we could get huge rewards for screwing up on our jobs?

As far as the national debt goes, what happens to you when you’re in debt. Your money gets tied up paying off so much interest that you can’t maintain your house or buy stuff you need. Next time a deteriorating bridge collapses or we can’t invest in energy or health research or education, thank the national debt. By the way, there are whores in every line of work, legal, science, and economics. Don’t believe everything you hear.

By: Justin

Justin — Wed, 10 Sep 2008 21:05:05 +0000

A fine example of why capitalism should be allowed to run its course.

As for the national debt, some economists say don’t even worry about it. It’s not worth losing sleep over.

By: Jason!

Jason! — Wed, 10 Sep 2008 20:51:15 +0000

This… this… sucks.

I would try to refinance, but we’re upside down now, so no one will touch us. At least we don’t have to pay PMI.

By: Johnny Cat

Johnny Cat — Wed, 10 Sep 2008 20:44:17 +0000

I bought my home a year ago, and although I wish I would have waited and nab a killer deal on the plethora of short sales out there now, I’m confident that (at least in my market) we’ll bounce back up nicely in about 4 years. As for this week’s news, I may want to refinance and save a buck or two.