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[kojak]

This is an incredible expansion of govt reach into the us economy. Needed or not, the US govt as of today officially runs Fannie and Freddie. They provide financing for over 60% of th mortgages in this country, over a $trillion. By the way, if you are still a stockholder in these companies, you are basically screwed. It'll be interesting to see what the stock markets around the world do tomorrow.
http://feeds.washingtonpost.com/~r/wp-dyn/rss/linkset/2005/03/24/LI2005032400102_xml/~3/385892578/AR2008090700259.html

[MJZ]

It was announced Friday and FNM reacted with a 10% jump. I'm betting next week it will hit 12.

[kojak]

It was announced Friday and FNM reacted with a 10% jump. I'm betting next week it will hit 12.

So the Chinese and the Russian govt's probably called and said we arent buying anymore Fannie/Freddie debt and we are holding $500 b already and what are you going to do, Mr Paulson? All this republican bs about small gvt and self correcting capitalism turned out to be just that, a big stinking pile of bs. They did do the right thing in pragmatic terms by basically nationalizing the giant mortgage banks and guaranteeing their debt so all of your homes don't lose another 20-30% of their value in the next year. And dont forget, the thousands of employees of these 2 companies company stock is worth about a $1 vs $65 a year ago but the big shots made out ok with millions in severance. Congratulations on screwing something else up Mr. Bush!

[MJZ]

So the Chinese and the Russian govt's probably called and said we arent buying anymore Fannie/Freddie debt and we are holding $500 b already and what are you going to do, Mr Paulson? All this republican bs about small gvt and self correcting capitalism turned out to be just that, a big stinking pile of bs. They did do the right thing in pragmatic terms by basically nationalizing the giant mortgage banks and guaranteeing their debt so all of your homes don't lose another 20-30% of their value in the next year. And dont forget, the thousands of employees of these 2 companies company stock is worth about a $1 vs $65 a year ago but the big shots made out ok with millions in severance. Congratulations on screwing something else up Mr. Bush!

President Bush could not have done this if it were not having the road paved by the congress.Hummmmmmmmm I wonder who controls those houses? Both republicans and Socialcrats have chit on their hands from this one. Because it is an election year, republicans have to make some improvement to the economy before Nov and the socialcrats have to be able to tell their rank and file that they kept their houses from being repo'd. They did this together, take a look at the numbers and both Harry the worm and Pelousey twisted every arm in site to get the votes for it.

[kojak]

Hasnt been ratified by congres yet but I'm sure it will be. I blame the SEC for lax governance of these banks and financial institutions which landed us here.

[hunter]

makes you proud for paying it with your tax money, doesn't it?   

Send jobs to China.
Spend tax money in Iraq.
Spend more tax money to bail out small banks.
Spend even more tax money to bail Fannie, Freddie and Bear Sterns.
Spend some more tax money to provide health care for illegal aliens.
Allow Chines and Arabs to become majority owner in our big banks and financial institutions while one controls all our imports and the other our oil supply.
Screw Enron employees who lost their pension.
Screw people who count on Social Security for retirement.

Did I miss anything? 
Please feel free to add to the least.  And I should add it's government's fault, period.
Electing Rep. or Dem. is just choosing between BAD and WORST.

off the 

[Hugh Janis]

getting a loan for up to 125% of the value of your home to "get out of debt" sound good to you?  It did to their customers who had trouble keeping jobs.  It was bad business that caused it.  Fed control won't stick.  It's a bailout, nothing more, to secure the value of middle class american homes.

[Free]

well, they dont have much choice now. The government created the problem by allowing Americans to buy homes without putting money down.  They need to natioanlize the agencies and they should wipe out the equity and some of the debt as well.  Lending to agencies like these that are leveraged 70 to 1 is insane!!

Free