Forum Post: I Said It 30 Days Ago. Take Your Angst To Fannie Mae, Freddie Mac, and Barney Frank
Posted 13 years ago on Nov. 17, 2011, 8:41 p.m. EST by MikeInOhio
(13)
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It's been over 45 days now and you folks still haven't figured out whom to blame for our (your) troubles.
Barney Frank, Bill Clinton, and other liberals decided that everyone in the United States deserved to own a home. It didn't matter if you didn't pay your bills, you had the right to purchase a home (a noble, but foolish, undertaking in my opinion). It became the policy of the Federal Government to allow virtually anyone to qualify for a home loan. This borrowing binge led to our real estate and asset bubble. We are now paying the price.
You can blame the banks and Wall St. all you want, but Fannie imposed the underwriting standards.
I would suggest marching at Barney Frank's house. Franklin Raines would be a good second choice.
Who owns the private parts of Fannie and Freddy?
There is still some stock (private) out there, but the Federal Government owns both entities, for all intents and purposes.
I didn't think you knew.
Don't know exactly either, but it's around half.
Gov, got talked into insuring the debt. Isn't that always the way?
No, there is no real private ownership of Fannie and Freddie. These are government managed, and owned, operations. There may still be 1% in private ownership. But that's how they have always been, they were not started to be private entities. They were like insurance companies who decided to ignore the risk in creating a bubble.
Insurance corporations like bubbles. Wallstreet, even more so. The real estate bubble started long before there was an F&F, anyways.
Yes. there is real private ownership in F&F. Just the profit part though. the liabilities are on the public. It's the neoliberal libertarian way.
OK. What else can I say? Ignore the facts, if you will.
Like you're not?
F&F didn't crash the worlds economy. Wallstreet did!
or ask newt for the $1.6M back
why would he give that back? because they wouldn't take his advice? pffft.
he tried, they chose their own path and let him go. Crash Boom Bang UHHH OOOO. we should have listened to Newt.
Yes, pretty sweet deal!
Franklin Raines and Barney Frank's boyfriend had far better deals.
homophobic today, are we, sweetheart?
I just can't remember his name.
It's always easier to change the discussion than to debate a lost cause.
You've been watching Fox news.........haven't you.
Why is that always the fallback ad hominem? you never hear a non-liberal saying "you've been watching CNN (or MSNBC, ABC, CBS, ABC, etc, etc)...
Yes, Fox has a center-right bias, just as all those I mentioned have a center left bias, but...any news can be fact checked, and is by those who like to stay informed
Maybe you should try to refute the argument presented instead of engaging in ad hominem attacks against those who make them...you might learn something...but, I personally find that those who go right to attacking the utterer rather than attending to the utterance...have nothing intelligent to add to the discussion..just my observation...
That's the ultimate cop out.
I'm about as well-educated as one can become.
Never happen. Frank and Raines are OWS heroes. They are fellow leftists.
It's unfortunate, but true.
Er, no. They are Wall Street shills, just like all of their fellow politicians. OWS is protesting all of the things you mentioned in your post, while you're here complaining that they're not. Get involved.
I've been involved for 6 weeks and, quite frankly, I have not been impressed with the minds involved. It's devolved into idiocy.
So get more people like you involved. Or are you going to protest that people are not smart enough?
Yes, I am protesting that the people involved are not smart enough to debate the facts. It's unfair. I demand a better-educated opponent!
Opponents, huh. I think you're thinking about this in the wrong way.
Yes, it's all about education. I view the poorly-educated people who support this movement as my opponents. The unions and Democrats are my opponents too.
:(
You should be having conversations, not trying to defeat people. This kind of attitude is why big business and the banking industry doesn't think about the people they "defeat," or what happens to them.
Thank you, Opie. I have nothing more to say.
mustard. I like mustard :)
me too